Vietnam PM Chinh meets Chinese Premier Li Qiang, agrees to boost trade and investment

Vietnam PM Chinh meets Chinese Premier Li Qiang, agrees to boost trade and investment

Vietnamese Prime Minister Pham Minh Chinh and Chinese Premier Li Qiang met on the sidelines of the expanded BRICS summit in Rio de Janeiro, Brazil, on July 7, 2025, to discuss the ongoing development of Vietnam–China relations. The meeting resulted in a series of agreements aimed at enhancing cooperation in various fields.

PM Pham Minh Chinh thanked Premier Li for the warm reception during his visit to Tianjin in late June for the World Economic Forum (WEF)’s 16th Annual Meeting of the New Champions. He emphasized the value of recent high-level exchanges in advancing the relationship between the two countries and their respective parties. Both sides agreed to effectively implement the high-level common perceptions reached during recent bilateral engagements and to continue advancing the Vietnam–China comprehensive strategic cooperative partnership based on six major orientations.

The agreement also included a commitment to maintain frequent high-level exchanges and deepen cooperation in economy, trade, investment, as well as expanding collaboration in science, technology, and innovation. PM Pham proposed that China prioritize and accelerate cooperation on railway connectivity, specifically the Lao Cai–Hanoi–Hai Phong standard gauge railway, with the goal of commencing construction in December.

The Chinese Premier praised the positive momentum in bilateral ties and affirmed that China will continue working closely with Vietnam to translate top-level common perceptions into concrete outcomes. He stressed China’s willingness to fast-track strategic connectivity with Vietnam, including infrastructure cooperation such as standard-gauge rail links between the two countries.

The meeting came amid ongoing U.S. tariff negotiations with Vietnam. On July 3, 2025, the U.S. and Vietnam agreed to a trade deal that will reduce U.S. tariffs on Vietnamese goods to 20% and impose a 40% duty on goods deemed to be transshipped. This deal was seen as a positive development by Chinese manufacturers operating in Vietnam, who had been facing uncertainty due to the potential for higher tariffs [3].

However, the U.S. trade deal with Vietnam has raised concerns in China, which has vowed to retaliate if its interests are hurt. The Chinese Ministry of Commerce stated that it opposes any trade deal that harms China's interests and would take firm action to protect its legitimate rights and interests [4].

In conclusion, the meeting between PM Pham Minh Chinh and Premier Li Qiang marked a significant step in strengthening Vietnam–China relations, with a focus on boosting trade and investment. The agreement came amidst ongoing U.S. tariff negotiations with Vietnam, which have raised concerns in China. The future of these relationships will depend on how these issues are resolved and how the agreements are implemented.

References:
[1] https://en.sggp.org.vn/vietnam-china-agree-to-beef-up-cooperation-in-various-fields-post118757.html
[2] https://www.usnews.com/news/u-s-news-decision-points/articles/2025-07-03/how-trumps-trade-deal-with-vietnam-is-really-about-china
[3] https://www.scmp.com/economy/china-economy/article/3316746/chinese-firms-vietnam-upbeat-over-us-tariff-deal-better-expected
[4] https://www.businesstimes.com.sg/international/global/china-vows-retaliation-if-its-hurt-us-vietnam-trade-deal