Vietnam, Belarus seek comprehensive co-operation

Nearly 50 representatives from authorities and enterprises of the two countries attended the meeting.

During the working session, participants reviewed the remarkable outcome of the multi-faceted collaboration between Vietnam and Belarus, including the implementation of agreements on free trade, and the successful organization of ‘Vietnam Days of Culture’ in Belarus and ‘Belarus Days of Culture’ in Vietnam.

Belarus has increased its exports of tires, pharmaceuticals, alcohol, milk, food, and industrial products to Vietnam. Meanwhile, Vietnam shipped products such as coffee, tea, nuts, noodles, confectionaries, and seasonings to the Eastern European nation. However, trade turnover between the two countries has yet to fulfill its potential. In 2014, trade turnover was recorded at just 170 million USD; the figure stood at nearly 96 million USD in the first eight months of this year. The two sides agreed that the free trade agreement between Vietnam and the Eurasia Economic Union (EAEU) signed in Kazakhstan last May would add more momentum to economic links between Vietnam and Belarus after the deal took effect.

"In order to strengthen economic and trade links between Vietnam and Belarus, it is important to enhance technological transfers and establish joint ventures in products like cars, trucks, and tractors, which are Belarus’s strengths." - Hoang Quoc Vuong, Deputy Minister of Industry and Trade, Head, Vietnamese Delegation.

The sides agreed to promote key projects to investors in the two countries in areas from agriculture, industry, and construction to finance, science, technology, healthcare, and education. They will also expand co-operation in other fields, such as information-communications, culture, sports and tourism.