Source: CNTV    Published: 2015-11-5

China has been Vietnam`s largest trading partner for decades and the two countries will become even closer in the coming days thanks to the One Belt, One Road Initiative.

Two neighbors share striking similarities and parallels.

"Vietnam and China have lots in common like politics, economics and social structure," Do Tien Sam with Vietnam Academy Social Sciences said.

China is the largest trade partner of Vietnam, which in turn, is China`s second-largest trade partner among all Southeast Asian countries.

Vietnam exports large volumes of fruit and agricultural products to China.

Bilateral trade revenue reached 83.6 billion U.S. dollars in 2014, a year-on-year increase of 27 percent.

And it`s getting better. Bilateral trade revenue grew a dramatic 16.6 percent in the first half of this year.

Chinese investment in Vietnam has also witnessed impressive development, surpassing 8 billion U.S. dollars.

Vietnam is an essential part of the China-proposed Belt and Road Initiative.

"We have been linked strategically through China`s One Belt, One Road Inniative and Vietnam`s Two Corridors and One Economic Circle plans and will work together to boost capacity cooperation. As we implement our consensuses, the structure of China-Vietnam economic cooperation will be further improved and will develop in a more balanced and healthy manner," Chinese ambassador to Vietnam Hong Xiaoyong said.

The Vinh Tan 1 thermal power plant is being built in Vietnam`s southern Binh Thuan province. And China`s Southern Power Grid Company and China Power International Development Company have provided 95% of the financing. The plant is being constructed under a build-operate-transfer contract that will help increase the power supply, create jobs, promote economic development and improve people`s livelihoods.

Experts believe that China and Vietnam have huge potential for cooperation in production and equipment manufacturing. The "One belt, One road" initiative will also bring new momentum to bilateral relations, and create a broader platform for collaboration between the two sides.