THE SOCIALIST REPUBLIC OF VIET NAM
Government News
VN, Timor Leste agree to boost trade, economic ties
VGP – Việt Nam and Timor Leste agreed to early negotiate a bilateral trade agreement, promote rice export and energy investment, and encourage their enterprises to engage in economic and trade activities.
|
|
|
The Vietnamese Minister of Industry and Trade Vũ Huy Hoàng (R) and the Timor Leste Minister of Tourism, Commerce and Industry Gil da Costa Alves sign the cooperation agreement, Hà Nội, September 22, 2009 |
The agreement was reached during the talks between Vietnamese Minister of Industry and Trade Vũ Huy Hoàng and the visiting Timor Leste Minister of Tourism, Commerce and Industry, Mr. Gil da Costa Alves on September 22 in Hà Nội.
In the last quarter of this year, the Ministry of Industry and Trade will send a delegation to Timor Leste to seek cooperation on industry, trade and investment.
Việt Nam and Timor Leste have potentials to expand cooperation in such fields as petroleum, mining, forest product processing, trading in agro-products, garments, consumer goods, and agricultural machines.
After the talks, the two ministers signed a memorandum of understanding on cooperation between the two ministries and an agreement on Việt Nam’s rice export to Timor Leste.
Timor Leste’s demand for rice is 150,000-200,000 tons a year.