Many solutions to promote cooperation Vietnam-Saudi Arabia

(26/03/2014) With the consent of the Prime Minister, dated 25/3, the Ministry of Industry and Trade has organized the second session of the Joint Commission on Economic Cooperation, Scientific and Technical Cooperation between Vietnam Vietnam and Saudi Arabia

    • Vietnam Union division composed of representatives of ministries and a number of related businesses by the Deputy Minister of Industry and Trade Le Duong Quang be the group leader. About the division H.Salah Saudi Arabia by Mr. Ahmed, Deputy Minister of Economic Planning and Saudi Arabia lead.

      At the Opening Session Session, the two sides announced economic situation in each country over time. At the same time, the two heads of the delegations have reviewed the cooperation between the two countries since the First Session to present and offer suggestions and practical solutions to further strengthen the cooperation in various fields such as commercial, industrial, oil and gas, agriculture, finance, banking, investment, labor, transportation, information and communication ...

      According to Mr. Ahmed H.Salah, since the first session of the far, cooperation between the two countries there has been a rapid and strong development, especially in the areas of trade, finance and labor. However, between the two countries is still much potential and opportunity to promote multifaceted cooperation to leverage the inherent strengths of each country.

      Deputy Minister Le Duong Quang said this Session, the two sides emphasized the implementation of cooperation programs to ensure energy security and food between the two countries, the measures to implement the initiative of Saudi Arabia to invest abroad. In particular, focus on the deployment and investment cooperation between the two countries in the field of agriculture and oil and gas in the future.

      In addition, the two sides need more effort to concretize the content being discussed in Session. At this point, the two sides have agreed to accelerate negotiations and eventually signed the Agreement on visa exemption for holders of official passports and diplomatic agreements and encourage investment protection, cooperation agreement between the Ministry of Foreign Affairs and Cooperation Agreement between the two countries' central banks and official early signing of air transport.

      Statistics from the Ministry of Industry and Trade shows, trade between the two countries has significantly grown. If in 2011, the two-way trade turnover reached 1.04 billion U.S. dollars in 2013, then rose to $ 1.71 billion. Particularly in 2013, the export turnover of Vietnam to this market reached U.S. $ 471.4 million to focus on the main export commodities such as agricultural products, aquatic products, machinery, tea, rice, coffee, cashew nuts , pepper, products processing industries, garments, wood products, sanitary ware, furniture row ...

      In contrast, imports reached $ 1.2 billion with the main items are inputs to cater for the production of crude oil, liquefied natural gas, plastic materials, iron and steel.

      In the candid exchange of air, Deputy Minister Le Duong Quang gave a number of proposals aimed at strengthening cooperation between the two countries through the exchange of delegations at all levels to visit and work; strengthen trade promotion activities to be held in each country.

      He also recommended the continued deployment of Saudi Arabia Protocol on cooperation petroleum and mineral industries as well as facilitating the Vietnam Oil and Gas Group to expand cooperation with partners Saudi Arabia. Furthermore, businesses should be encouraged Saudi Arabia to invest in industrial projects in Vietnam and coordinate investment in the agricultural sector in order to contribute to ensuring energy security for Saudi Arabia and combined security the energy security for Vietnam.

      The Chairman in Saudi Arabia, Ahmed H.Salah he agreed with the opinion that Vietnam team leader suggested that the need for positive and specific implementation plans for cooperation and exchange content in the future .



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