The leaders of China and Vietnam met on the sidelines of China's 70^th anniversary V-Day parade and agreed to strengthen the ties between both nations and resolve their disputes through dialogue.

The two socialist countries have enjoyed a long history of cooperation. In the past decade, however, their ties have been strained in the contest over the South China Sea.

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Vietnam is one of the main countries opposing China's expansion in the contested territory. The Philippines, Brunei, Taiwan and Malaysia also have conflicting claims of ownership in the South China Sea.

The U.S. has deepened ties with Vietnam and the Philippines as both nations have grown distant from China in the heat of their dispute. Philippines officials recently announced that the Manila and Hanoi will enter into an agreement later this year to strengthen their defense, political and economic ties in the backdrop of China's growing dominance.

During his meeting with President Truong Tan Sang in the Great Hall of the People on Thursday, President Xi Jinping commended the Vietnamese leader for attending China's V-Day parade. He also reflected on the relationship between both nations and highlighted some of the achievements both countries have made in promoting economic integration.

China is currently one of Vietnam's largest trading partners. Experts predict that in less than two decades, China could become Vietnam's single largest trading partner.

"We are in favor of properly handling disputes between both sides through dialogues, and expanding cooperation and common interests," Chinese-state media quoted President Xi saying. The Chinese leader further noted that the relationship between both countries faces "new opportunities."

President Sang noted that Vietnam highly regards its bilateral relationship with China. He therefore explained that both countries should desist from actions that could flare up their dispute and instead collaborate to promote stability and cooperation.

The Vietnamese leader also called for increased people-to-people exchanges between both countries and hastening the implementation of their various agreements.

TagsChina Vietnam, China Vietnam South China Sea, China-Vietnam relations, china vietnam dispute, China 70th Anniversary V-Day Parade