PM’s upcoming visit to Saudi Arabia significant to further relations
Hanoi (VNA) - Prime Minister Pham Minh Chinh will lead a high-ranking Vietnamese delegation to attend the ASEAN - Gulf Cooperation Council Summit (ASEAN-GCC) and pay a visit to Saudi Arabia from October 18- 20, at the invitation of Saudi Arabian King Salman bin Abdulaziz Al Saud.
The visit holds significance in further strengthening cooperative
ties between two leading organisations in Southeast Asia and the Gulf region, fostering
collaboration, enhancing political trust, and improving the effectiveness of
cooperation between Vietnam and Saudi Arabia.
The upcoming Summit in Riyadh will mark the first time that
leaders from ASEAN and GCC member states have come together.
Sharon Seah, a senior member and coordinator of the ASEAN
Studies Centre at the Yusof Ishak Institute of Southeast Asian Studies
(ISEAS-Yusof Ishak) based in Singapore, expressed her belief that the leaders will adopt an
action plan for the upcoming period, aiming to create a new milestone in bilateral
cooperation.
Vietnamese Ambassador to Saudi Arabia Dang Xuan Dung said documents
to be reached at the Summit will provide a solid foundation and further elevate
the relationship between the two blocs, particularly in areas with high potential,
such as the economy, trade, culture, and people-to-people exchanges.
All six GCC member countries are Vietnam's priority
partners in the Middle East, with broad-ranging links across various areas,
including politics, diplomacy, trade, investment, official development assistance (ODA),
and labour.
At present, about 11,000 Vietnamese labourers are working
in GCC countries. Vietnam is in the process of negotiating a comprehensive economic partnership agreement (CEPA) with the United Arab Emirates (UAE).
As part of the broader framework of ASEAN-GCC cooperation,
the close partnership between Vietnam and Saudi Arabia over the past 24 years
has made significant strides.
Two-way trade surpassed 2.7 billion USD last year, up 32.4%
annually. Vietnam mostly exports mobile
phones and components, apparel, wood and wooden furniture, cashew nuts, rice,
machinery, equipment, and spare parts while importing raw plastics,
chemicals, and liquefied petroleum gas from the Middle East country.
Many corporations and companies from Saudi Arabia are now
involved in projects in Vietnam, such as the Zamil Steel Group and the Sabic Group. The
Saudi Fund for Development has provided preferential loans for 13 projects with
a total value of over 181 million USD. Around 4,000-5,000 Vietnamese labourers
are working in Saudi Arabia.
Against such a backdrop, PM Chinh's visit to Saudi Arabia is
expected to contribute to strengthening political trust, elevating the bilateral
relationship to a more substantial and effective level across various aspects,
including politics, diplomacy, the economy, trade, investment, and labour, toward celebrating
the 25th anniversary of bilateral diplomatic ties next year.
In particular, the visit is anticipated to yield specific cooperation
results in trade and investment, with a focus on green growth, infrastructure,
energy, industry, high technology, as well as create opportunities for
Vietnamese agricultural products to enter Saudi Arabia while making it easier
for Saudi Arabia to receive more skilled Vietnamese workers.
Ambassador Dung said the PM's activities will focus on investment, economic relations, labour, and more. Several memoranda of understanding are scheduled to be signed, and ministries, agencies and businesses from both sides will have the opportunity to work and connect effectively together, especially through the business forum and other business meetings./.