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Vietnam, Ukraine strive for US$1 billion in bilateral trade

by VNA29 December 2020 Last updated at 13:38 PM

At the working session (Photo: NDO)
At the working session (Photo: NDO)

VTV.vn - Vietnamese Ambassador to Ukraine Nguyen Hong Thach and Ukrainian Deputy Minister for Economic Development, Trade and Agriculture Taras Kachka agreed to make greater efforts to push bilateral trade to US$1 billion within the next three years.

At their working session on December 28, Thach and Kachka, who is also chairman of the Ukrainian subcommittee of the Vietnam-Ukraine intergovernmental committee for cooperation in economy-trade and science-technology, discussed the preparations for the 15th meeting of the committee, which is scheduled to take place virtually in late January 2021.

Thach stressed that despite difficulties caused by the COVID-19 pandemic, bilateral trade grew more than 12% in first nine months of 2020 to reach US$300 million.

However, he said there remained huge potential for bilateral cooperation, particularly in the fields of science and technology.

As Ukraine is working to boost economic diplomacy and expand its cooperation to Asia, the ambassador is confident that economic and trade ties will become the most important aspect in the bilateral relationship.

The diplomat affirmed that the embassy is always willing to work with the Ukrainian side to remove obstacles in cooperation.

Both officials agreed to speed up the establishment of Vietnam House in Kyiv and of Ukraine House in Hanoi to introduce the countries’ products and foster economic and trade partnerships between their enterprises.

Kachka said Ukraine boasts scientific and technological advances with high quality and lower costs, adding that together with the recent establishment of the Ministry for Strategic Industries, will create favourable conditions for bilateral collaboration in the field.

At the upcoming 15th meeting of the intergovernmental committee, Ukraine will prioritise dialogue on plant quarantine targeting farm produce and the possibility for negotiations on a free trade agreement between the two nations.

Both officials said they were optimistic about the future prospect of the Vietnam-Ukraine economic and commercial cooperation.

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