Beijing  - Chinese Premier Wen Jiabao met with Vietnamese Prime Minister Nguyen Tan Dung Friday to discuss trade, economic cooperation and a territorial dispute in the South China Sea, China's official Xinhua news agency reported.

There was dialogue but no sign of a resolution on the three archipelagos that both countries claim ownership to there.

"Vietnam is willing to properly solve the South China Sea issue in the spirit of mutual respect and consultation," Xinhua quoted Dung as saying when he met Wen on the southern Chinese island of Hainan, where both were attending the Bo'ao Forum for Asia, a regional economic meeting.

Wen said China and Vietnam should safeguard stability in the area.

China and Vietnam have long claimed ownership over the archipelagos in the South China Sea, including the Spratly Islands. The area is an important shipping thoroughfare and rich in natural resources.

On the economic front, Wen said China would like to work with Vietnam to strengthen future economic and trade cooperation and maintain growth of two-way trade.

Dung indicated Vietnam is ready to sign a five-year economic and trade cooperation agreement.

"Chinese enterprises are welcomed to invest in Vietnam," he was quoted as saying. (dpa)