BEIJING - China and Vietnam have launched their first round of consultations on joint development of maritime resources, according to a news release issued by the Chinese Foreign Ministry on Thursday.

The consultation was held on Wednesday between the teams on sea-related joint development, co-chaired by deputy chiefs from the Chinese foreign ministry's Department of Boundary and Ocean Affairs and the Vietnamese foreign ministry's National Boundary Commission, according to the news release.

The two sides exchanged views in depth on sea-related joint development, it said.

The two sides are committed to working together for substantial progress toward the consensus reached between the two countries' leaders and the bilateral agreement on basic principles guiding the settlement of maritime issues signed in 2011, the release said.