BEIJING - China and Vietnam have agreed to speed up negotiations on South China Sea related disputes and work out a mutually agreeable solution as early as possible.

The two countries agreed to solve the maritime problem through negotiations and peaceful, friendly consultations, according to a press release from the fifth meeting of the China-Vietnam steering committee on cooperation posted on the Chinese Foreign Ministry's website on Thursday.

The two sides also agreed to intensify the efforts to speed up the negotiations and work out a mutually agreeable solution on the issue. They pledged to work hard to sign an agreement as early as possible, the release said.