BEIJING, Dhu-AlHijjah 12, 1437, Sep 13, 2016, SPA -- China and Vietnam should work together to maintain peace and stability in the South China Sea and manage and control disputes, Chinese Premier Li Keqiang told Vietnamese Prime Minister Nguyen Xuan Phuc, Reuters reported. China claims almost all of the South China Sea, where about $5 trillion worth of seaborne trade passes every year. Brunei, Malaysia, the Philippines, Taiwan and Vietnam also have claims in the sea believed to have rich deposits of oil and gas. Vietnam is in the midst of a quiet military buildup analysts say is designed as a deterrent, to secure its 200 nautical mile Exclusive Economic Zone as China grows more assertive in staking its claims in the South China Sea. A court of arbitration in The Hague in July said China's claims to the waterway were invalid, after a case was brought by the Philippines. Beijing has refused to recognise the ruling. Vietnam welcomed the ruling, saying it strongly supports peaceful resolution of disputes, while reasserting its own sovereignty claims. Meeting in Beijing on Monday, Li told Phuc that the South China Sea involved both issues of sovereignty and maritime rights as well as "national feelings", China's Foreign Ministry said on Tuesday. "China and Vietnam should work hard together, scrupulously abide by their high level consensus, maintain maritime stability, manage and control disputes, promote maritime cooperation, continue to accumulate consensus, jointly maintain maritime and regional peace and stability and create conditions for the stable development of bilateral ties," Li said. -- SPA 03:51 LOCAL TIME 00:51 GMT www.spa.gov.sa/w