Kuwait among first Middle East nations establishing ties with VN
VGP - Kuwait was one of first nations in the Middle East setting up diplomatic ties with Viet Nam January 10, 1976 and mong countries recognizing the Southeast Asian country's market economy.
Former State President Le Duc Anh was the highest State leader of Viet Nam paying official visit to Kuwait in 1995. Kuwait was the first nation in the Middle East Viet Nam opened trade representative office in 1993.
Kuwaiti PM Nasser Al Mohammed Al-Jaber Al Sabah’s official visit to Viet Nam in 2007 and former PM Nguyen Tan Dung’s official visit to Kuwait in 2009 marked important marks in the two nations’ relationship.
After Viet Nam opened its Embassy in Kuwait in 2003, Kuwait was the first Arabian nation in the Gulf Cooperation Council to launch the Consulate General in Viet Nam in 2007.
In 2016, the two nations celebrated the 40thanniversary of the establishment of diplomatic ties with a number of diplomatic, economic and cultural activities, which contributed to strengthening mutual knowledge.
The bilateral cooperative mechanisms include the Joint Committee (two sessions held in December 2009 and July 2019) and the political consultancy between the two Ministries of Foreign Affairs.
The two countries usually advocate each other at multi-lateral forums. Kuwait has backed Viet Nam to become the non-permanent member of the United Nations Security Council in 2020-2021 tenure.
Kuwait recognizes Viet Nam as market economy
Economic-trade-investment ties between the two nations have been strongly developed. Kuwait has been one of Viet Nam’s largest trade partners in the region with the bilateral trade value of US$700 million in the 2011-2014 period.
In 2018, the two-way trade value reached US$2.6 billion, of which Viet Nam’s trade deficit hit US$2.5 billion, mainly coming from petrol.
Viet Nam mainly exports garments, seafood, wood, computers, electronics, fruits and vegetables, peppercorn, footwear and porcelain to Kuwait.
In February 2016, Kuwaiti Government recognizes Viet Nam as market economy.
Kuwait Petroleum Corporation and Japanese partner are joining Nghi Son oil refinery and petrochemical plant project, with the total investment capital of US$9 billion.
Since 2018, around 1,300 Vietnamese workers have been sent to Kuwait to work in the construction and petrol sectors.
The number of visitors from Kuwait to Viet Nam is expected to rise 60% in 2019 compared to the previous year.
A number of agreements were inked such as the agreement on economic, scientific and technical cooperation framework, trade agreement, air transport agreement, protocol of cooperation between the two Ministries of Foreign Affairs, agreement on investment encouragement and protection, cooperative agreement between the two Chambers of Commerce and Industry; double taxation avoidance agreement, agreement on visa exemption for diplomatic and official passport holders, agreement on cultural-art cooperation and the memorandum of cooperation in sports.
Viet Nam has signed a loan agreement with Kuwait Fund for 16 projects with the total committed capital up to US$190 million.
The Kuwaiti Government has provided non-refundable aid of US$3 million in 2013 and US$225,000 in 2017 for the Central Viet Nam.
By Thuy Dung
