The two countries will explore fresh growth areas and maintain a rapid growth in bilateral trade volume, which the two sides vow to boost to US$15 billion by 2010, said the declaration issued during Chinese President Hu Jintao's visit to Vietnam.

Hu has held talks with General Secretary of the Central Committee of the Communist Party of Vietnam Nong Duc Manh, President Nguyen Minh Triet, Prime Minister Nguyen Tan Dung and National Assembly Chairman Nguyen Phu Trong.

In the declaration, Vietnam and China pledge to improve trade structure to achieve a balanced and sustainable growth; support and encourage enterprises from both sides to conduct long-term and mutually beneficial cooperation in infrastructure, industries, energy and human resources; enhance cooperation in regional, trans-regional and international economic mechanisms.

In the declaration, China congratulates Vietnam on its accession to the World Trade Organization (WTO) as it expresses its belief that as a WTO member, Vietnam will make positive contribution to the operation of WTO.

The two sides also signed an accord on expanding and deepening bilateral economic and trade cooperation, which sets the guidelines for economic cooperation between the two countries in the next five to 10 years and pinpoints focus of cooperation.

The joint document also highlighted progress in solving border issues, with Vietnam and China agreeing to complete the demarcation of land borders and the planting of border markers by 2008.