BANDAR SERI BEGAWAN, Aug. 27 (Xinhua) -- Brunei and Vietnam agreed on Saturday to fully and effectively implement the Declaration on the Conduct of Parties in the South China Sea (DOC).

The pledge came as Brunei's Sultan Hassanal Bolkiah held talks with visiting Vietnamese President Tran Dai Quang here on Saturday, according to a joint statement issued after the talks.

They also agreed to work towards the early conclusion of a code of conduct in the South China Sea (COC).

The DOC, signed in 2002 by China and the Association of Southeast Asian Nations (ASEAN) member states, outlines the most important principles in the management of disputes on the South China Sea, and consultations for the COC were launched by the two sides in 2013. Both are aimed to safeguard peace and stability in the region.

The Vietnamese president arrived here on Friday afternoon for a state visit to the sultanate, which will end on Sunday, at the invitation of Sultan Hassanal Bolkiah.

According to the statement, both sides reaffirmed the importance of ASEAN's role in the regional security architecture, and expressed satisfaction with their defense cooperation.

The leaders of the two countries also agreed to further deepen bilateral economic and trade relations in the hope of two-way trade reaching 500 million U.S. dollars by the year 2025.