VN, Egypt head to US$1 bln in trade value
09:43 | 28/08/2018

VGP – Egyptian President Abdel Fattah Al Sisi and State President Tran Dai Quang have agreed to boost cooperation in economic areas, striving to reach the two-way trade value of US$1 billion in the next five years. 

Egyptian President Abdel Fattah Al Sisi and State President Tran Dai Quang hold talks in Cairo, Egypt, August 27, 2018 - Photo: VNA

The statement was made during the talks between the two leaders on August 27 during the Vietnamese State leader’s State visit to Egypt from August 25-29. 

The Egyptian President confirmed that Mr. Quang’s first State visit to Egypt has created the impetus to promote the traditional, friendship and multifaceted relations between the two nations more intensively and effectively. 

The two leaders announced each nation’s situations, expressing their delight to see positive developments in the two countries’ relationship over the recent years, including the success of the first meeting of the Sub-Committee on Trade and Industry Cooperation in Egypt in April 2018 to realize the outcomes of the Inter-Governmental Committee’s fifth meeting in August 2017.

Especially in the first half of 2018, the two-way trade value reached US$230 million, a year-on-year surge of 44.5%. 

Mr. Quang proposed that Viet Nam and Egypt maintain regular meetings between senior leaders, encourage delegation exchanges among ministries, sectors, and localities; and promote cooperation at multilateral forums, especially within the framework of the UN, South-South Cooperation, Non-Aligned Movement, and the Francophone.

He suggested that Egypt, as a member of the Treaty of Amity and Cooperation in Southeast Asia, act as a bridge for the ASEAN countries, including Viet Nam, to get access to the African Union and its members.

Regarding economic cooperation, the Vietnamese leader urged Egypt to remove trade barriers and create favorable conditions for Vietnamese goods to access its market, especially in terms of farm produce, aquatic products, and construction materials as well as soon complete legal procedures to approve the Double-Taxation Avoidance Agreement signed with Viet Nam in March 2006.

For his side, President Abdel Fattah Al Sisi asserted that positioned in a place connecting the three continents, Asia, Africa, and Europe, Egypt is willing to help Vietnamese goods access the Egyptian market, including the upcoming launch of the Halal trade standard program and supporting Vietnamese officials in learning Halal standards for goods exported to Muslim markets, including Egypt.

Both sides exchanged views o. other cooperative areas, assenting to strengthen delegation exchanges and experiences sharing in such areas as security, defense, economics, trade, investment, culture, sports and tourism, agriculture, transport and local-to-local exchanges. 

They discussed issues of international and regional concerns, consenting to continue maintaining cooperation at multi-lateral forums and global issues such as anti-terrorism and sustainable use of water. 

At the talks, the two Presidents witnessed the signing of a number of important cooperation deals between ministries, sectors, localities, and enterprises, including a memorandum of understanding between Viet Nam’s Ministry of Industry and Trade and Egypt’s Ministry of Petroleum and Mineral Resources, and another between the two trade and industry ministries.

By Thuy Dung

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