China and Vietnam agree new trade zone

Framework deal instituted for business cooperation across borders

NANNING: South China's Guangxi Zhuang autonomous region and Vietnam have approved a framework agreement to establish a new cross-border economic zone in the latest effort to further boost economic and trade cooperation between China and its Southeast Asian neighbor.

It is part of broad efforts to further enhance bilateral economic ties between China, the world's third-largest economy - one of the fastest-growing economies in the world - and the Association of Southeast Asian Nations (ASEAN) following the establishment of the China-ASEAN free trade area (FTA) earlier this year.