Economic, trade and investment cooperation between Vietnam and Belarus faces great opportunities

Speaking at the reception, Deputy Prime Minister Trinh Dinh Dung said that in recent times, political and diplomatic relations between the two countries have developed very well. However, relations in the fields of economic cooperation, trade and investment still have many limitations and are not commensurate with the political relationship between the two countries. Although bilateral trade turnover in 2015 increased by more than 14% compared to the previous year, it only reached about 125 million USD.

According to Deputy Prime Minister Trinh Dinh Dung, the Free Trade Agreement between Vietnam and the Eurasian Economic Union, which officially took effect on October 5, 2016, is an opportunity and a favorable condition for the parties, including Belarus, to strongly cooperate in the fields of economics, trade and investment.

Deputy Prime Minister of Belarus Vladimir Semashko shared the opinion of Deputy Prime Minister Trinh Dinh Dung and said that the two countries have a good traditional and friendly relationship. Another favorable factor is that senior leaders of the two countries are very interested in promoting cooperation, especially in areas where each side has strengths and both sides have needs such as energy, machinery manufacturing, automobiles, education and training.

Deputy Prime Minister Vladimir Semashko said that Belarus attaches great importance to promoting cooperation with Vietnam in all fields, especially economics, trade, and investment.

Deputy Prime Minister of Belarus also said that the cooperation mechanism through the Vietnam-Belarus Intergovernmental Committee is very effective. The specialized agencies of the two countries will cooperate more closely to jointly remove limitations and obstacles to soon achieve the goal of increasing two-way trade turnover to about 500 million USD/year.

In the coming time, large Belarusian enterprises, including those in mechanical energy, automobiles, machine manufacturing, rubber... will come to Vietnam to seek cooperation opportunities as well as expand investment in existing projects.

Welcoming the intentions of Belarusian businesses, Deputy Prime Minister Trinh Dinh Dung suggested that these businesses need to carefully research the market, the regulations of the Vietnam-Eurasian Economic Union Free Trade Agreement as well as other agreements that Vietnam has signed to adjust products and services accordingly, meeting the needs of the market.

Deputy Prime Minister Trinh Dinh Dung also proposed that Belarus create favorable conditions so that Vietnamese goods, especially agricultural products and food, can easily access the market.

According to the program, tomorrow, October 27, a meeting of the Vietnam-Belarus Intergovernmental Committee will take place./.