Vietnam, Egypt strive for 1 billion USD trade

Update: 10:08 | 08/09/2017
Prime Minister Nguyen Xuan Phuc said he will instruct competent Vietnamese agencies to coordinate with their Egyptian counterparts to accelerate the implementation of commitments reached by the two countries’ leaders, thus soon bringing the bilateral trade to 1 billion USD. 
vietnam egypt strive for 1 billion usd trade Vietnam, Egypt seal cooperation agreements
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He told visiting Egyptian President Abdel Fattah Al Sisi in Ha Noi on September 7 that Vietnam always treasures the traditional friendship and mutually beneficial cooperation with Egypt.

The PM called on the two sides to step up their cooperation across fields, saying they should increase the exchange of goods of their strength such as tea, seafood, rice, cashew nuts, coffee, pepper, garments-textiles and rubber of Vietnam, and petrochemical products, chemicals, cotton and processed food of Egypt.

vietnam egypt strive for 1 billion usd trade
Prime Minister Nguyen Xuan Phuc (R) receives Egyptian President Abdel Fattah Al Sisi in Ha Noi on September 7 (Photo: VNA)

He suggested Egypt soon approve the Double Taxation Avoidance Agreement signed by the two countries in 2006, create conditions for the Vietnam National Oil and Gas Group (PetroVietnam) to seek investment opportunities and provide oil-related services in Egypt.

Vietnam wishes to further its collaboration with Egypt in national defence, agriculture, culture, tourism, transport and education-training, the Government leader said.

Expressing his thanks to the Egyptian Government for granting Arabic language scholarships to Vietnamese students, PM Phuc said these students have significantly contributed to the bilateral ties.

He urged the two countries’ diplomatic agencies to coordinate with each other in organising activities to celebrate the 55th anniversary of diplomatic ties.

The host suggested assigning competent agencies of Vietnam and Egypt to research President Ho Chi Minh’s activities in Egypt, considering it an invaluable asset that helps tighten the bilateral relationship.

He thanked the Egyptian Government and people for their support to Vietnam in evacuating Vietnamese guest workers from Libya in 2011 and 2014.

In reply, President Al Sisi said his visit aims to affirm that Egypt always places importance to the relationship with Vietnam in all fields.

He also used the occasion to invite PM Phuc to pay an official visit to Egypt.

The President informed the host about outcomes of his talks with President Tran Dai Quang, during which the two sides were unanimous in cooperation orientations and signed agreements.

Egypt hopes to cooperate with Vietnam and learn from the country’s experience in socio-economic development, he said.

Egypt highly appreciates Vietnam’s experience, particularly in developing industrial parks, fishery and seafood processing, the President said, noting his wish that the two countries will join hands in these realms at both Government and business levels.

President Al Sisi said Egypt has about a 4,000 km Red Sea coastline and a market of 91 million people, which, he considered a great opportunity for Vietnamese businesses to invest in the country.

Egypt also serves as a gateway for Vietnam to enter the African and Middle East markets, he said, adding that Egypt’s engagement in free trade agreements with Africa, Gulf States and Europe would make it easier for Vietnamese goods to access these markets, the President said.

He stressed that Egypt wishes to balance trade with Vietnam and that Vietnamese enterprises will invest in his country’s industrial parks.

In education, Egypt stands ready to provide scholarships for Vietnamese students, he said, voicing his hope for enhanced bilateral cooperation in tourism.

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(Source: VNA)