Thursday , May 26 2022

Việt Nam, Belarus seek ways to strengthen trade ties

 

Minister of Industry and Trade Nguyễn Hồng Diên. — VNA/VnExpress News Photo 

HÀ NỘI — Vietnamese Minister of Industry and Trade Nguyễn Hồng Diên and Belarusian Deputy Prime Minister Anatoly Sivak on Tuesday co-chaired the 15th meeting of the Vietnam – Belarus Inter-Governmental Committee on Economic, Trade and Scientific-Technological Cooperation in the form of a teleconference.

The two sides briefed each other on socio-economic development in the respective countries, reviewed cooperation contents agreed at the previous meeting, and set out cooperation orientations, especially measures to facilitate the operations of their businesses.

Minister Diên said the economic, trade, scientific and technological collaboration has maintained strong growth, especially after the Vietnam-Eurasian Economic Union (EAEU) Free Trade Agreement, to which Belarus is a signatory, came into force in October 2016.

However, the cooperation has still shown limitations, and is yet to match the potential and strength of each side, he said, stressing the need to set out specific, comprehensive solutions during the meeting to foster the bilateral ties.

Deputy Minister of Industry and Trade Đặng Hoàng An, Vice President of the Vietnamese Sub-Committee, reported that two-way trade still reached US$168.8 million last year despite COVID-19, up 131.6 per cent year-on-year.

Of the total, Việt Nam’s exports to Belarus was totalled $21.6 million, a rise of 338 per cent, while Belarus’ exports to the Southeast Asian nation reached $147.2 million, up 116.6 per cent.

By the end of 2021, Belarus had three projects in Việt Nam with total investment capital of $32.25 million, ranking 67th out of 140 countries and territories investing in Việt Nam.

Belarusian Deputy Minister of Industry Ogorodnikov Alexander briefed the participants on the implementation of the protocol on supporting the production of motor transport vehicles in Việt Nam, the construction of a dairy factory by Minsk joint venture in Việt Nam’s northern province of Hưng Yên, and a cooperation project on heavy-duty trucks by Belaz company of Belarus.

The two sides exchanged views on potential and measures to enhance cooperation in the fields of industry, trade, agriculture, science-technology, culture, sports, tourism and training.

In his closing remarks, Deputy PM Sivak stressed that Việt Nam is always a trustworthy and important partner of Belarus in the region.

With contents reached during the meeting, Việt Nam and Belarus will create mechanisms and legal frameworks to promote cooperation in mechanics, food production, technical transfer and pharmaceutical supply, and increase bilateral trade, he said. — VnExpress News

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