The two countries and two peoples will become good neighbors, friends, comrades as well as good partners by deepening their good-neighborly relations and expanding cooperation of mutual benefit, Hu said when meeting with Vietnamese Prime Minister Nguyen Tan Dung.

Hu, who is also general secretary of the Communist Party of China Central Committee, said the two countries should encourage their enterprises to explore new areas of bilateral trade, launch large-scale projects in industry, infrastructure and energy areas, and strengthen multilateral economic cooperation.

"China and Vietnam, both as countries with rapid economic growth, have great potential for broader trade and economic cooperation," he added.

Dung said Hu's ongoing visit has elevated the all-round friendly cooperation between the two countries and two parties to a new height. The Vietnamese government will earnestly implement the consensus reached between leaders of the two countries.

The Chinese president is in Hanoi for a state visit, where he will also attend the 14th economic leaders' informal meeting of the Asia-Pacific Economic Cooperation (APEC) slated for Saturday and Sunday.

Dung also highly appreciated China's efforts and contributions to develop its ties with the Association of Southeast Asian Nations (ASEAN).

Vietnam is a member of ASEAN, which also groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore and Thailand.