Vietnam and Nicaragua have agreed to increase exchanges of high-level and ministerial-level delegations to deepen political ties, boost mutual understanding and seek suitable areas and efficient methods for cooperation.

The consensus was reached at talks between Foreign Minister Pham Binh Minh and his Nicaraguan counterpart, Samuel Santos Lopez in Hanoi on Nov. 24.

The two ministers also agreed to promote negotiations for the signing of cooperation agreements, creating a legal framework for bilateral exchanges, particularly in economics-trade and investment.

Minister Samuel Santos Lopez expressed willingness to create favourable conditions for Vietnamese businesses to access to the market and set up cooperation and investment ties in Nicaragua .

The two ministers acknowledged important steps of development in the two countries’ relations in recent years through results of bilateral high-level meetings on the sidelines of international conferences and mutual support at multilateral forums.

They held that despite moderate bilateral economic-trade ties, both sides have potential for cooperation in fields of each country’s strength such as agriculture, aquaculture, telecom, energy and production of consumer goods.

The two minister also shared their views on regional and international issues of common concern and agreed to continue closely coordinating and providing mutual support at international organisations and multilateral forums such as the UN, the World Trade Organisation (WTO), the Forum on East Asia-Latin American Cooperation (FEALAC).

After the talks, the two ministers signed a memorandum of understanding on establishment of political consultation mechanism between the two foreign ministries.

Nicaragua Foreign Minister Samuel Santos Lopez is on an official visit to Vietnam from Nov. 24-26./.