The committee was co-chaired by Deputy Prime Minister and Foreign Minister Pham Gia Khiem and Chinese State Councilor Dai Bingguo.

The two sides reviewed the situation in their respective countries after the second session in January 2008 and agreed that bilateral ties have developed well, especially since their leaders decided to build the comprehensive strategic cooperative partnership. Both countries conducted frequent exchanges of visits at all levels and two-way trade hit a record high of more than US$20 billion last year despite the impact of the global economic crisis.

They agreed to maintain visits at all levels, particularly between their Party organisations with a focus on sharing theoretical and practical experiences in the building of the Party and socialism, as well as State management.

Delegates underlined the need to strengthen cooperation mechanisms between the two countries’ ministries, sectors and localities, especially such important ministries as foreign affairs, security, national defence, industry and trade, and the joint working committee between Vietnam’s northern border provinces and China’s Guangxi and Yunnan provinces.

They affirmed that in the context of the global economic slowdown, the two countries should work closely to overcome difficulties and strive to keep bilateral trade for this year equivalent to last year’s (US$20 billion) and raise the figure to US$25 billion in 2010, along with gradually balancing two-way trade.

The Chinese official announced that his government has decided to provide preferential loans worth US$300 million to Vietnam.

They welcomed the result of border demarcation and landmark planting to build a common borderline of peace, friendship and long-term stability. They said that the two countries’ specialists should work together towards signing relevant legal documents in 2009.

Delegates agreed to proceed with negotiations of maritime issues to maintain peace and stability at sea, increase cooperation where possible, and work together with parties concerned  to seek fundamental and long-term solutions acceptable to the parties.

They agreed to hold their 4^th session in Beijing in 2010.

At the end of the session, the two co-chairs witnessed the signing of a protocol between the Post Office of Vietnam and the Zhongnanhai Telecom of China on the establishment of a hotline between the two countries’ top leaders.