This agreement was reached during talks which form part of Sang's first state visit to the country, at the invitation of the Myanmar president.
Sang expressed his belief that under Thein Sein's leadership, the country would achieve more results during its construction and development process and successfully accomplish its chairmanship role of Asean in 2014, and its hosting duties for the SEA Games next year, contributing to raising the country's status in the region and the world.
Thein Sein said he hoped Vietnam would soon reach its goals set in the socio-economic development strategy during 2011-20.
During their talks, the two sides agreed that they should implement their bilateral co-operation mechanism and regularly review signed agreements to remove all barriers and boost their mutual cooperation.
The two leaders also acknowledged their progress in national defence and security ties as they reviewed agreements made last year and in 2004 about anti-criminal cooperation and defence.
They agreed to soon establish security dialogue at deputy-minister level between the Ministry of Public Security of Vietnam and the Ministry of Home Affairs of Myanmar.
The two presidents also said the two countries should raise their trade turnover to US$500 million in 2015.
Thein Sein promised to create favourable conditions for Vietnam's investment projects in Myanmar.
The leaders also said they would need to improve and extend their cooperation in a very wide variety of fields such as agriculture, forestry, aqua-culture, telecommunications, petroleum, mineral exploitation, transport, labour and culture, and sports and tourism.
They agreed to entrust their relevant agencies to negotiate and sign agreements forming a legal base for more cooperation.
Regarding regional and international issues, the two presidents affirmed they would keep co-ordinating in multilateral forums and support each other in international and regional organisations.
President Sang said Vietnam would always give support for and be willing to share its experiences with Myanmar so the country would succeed in acting as a chair of Asean in 2014.
Regarding East Sea issue, the two leaders agreed related parties should work towards peace, stability, security, safety and freedom and settle disputes by peaceful measures, based on obeying international laws, especially the 1982 United Nations Convention on the Law of the Sea.
They also welcomed the Asean Declaration on Six-Point Principles and the latest Joint Statement of the 15th Asean-China Summit on the 10th anniversary of Declaration on the Conduct of Parties on the East Sea (DOC).
They agreed to strictly implement the DOC and build up a code of conduct in the East Sea.
On the same day, they witnessed the signing ceremony of a Memorandum of Understanding about initiating information exchange about the inspection activities of the State Bank of Vietnam and the Central Bank of Myanmar , and an agreement on petroleum cooperation between Vietnam Oil and Gas Group PetroVietnam and Myanmar's Ministry of Energy.-Asia News Network (November 30, 2012)
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