Overview of the meeting (Source: VNA)
Venezuela and Vietnam are looking to build a strategic alliance in energy via cooperation with the Vietnam National Oil and Gas Group in order to ensure each country’s energy security, Venezuelan President Nicolas Maduro Moros has said.

At a meeting with Vietnam’s Deputy Prime Minister Hoang Trung Hai and business representatives in Hanoi on August 31, the Venezuelan President said energy is among the most important issues recently agreed upon by the two Governments.

He stressed Venezuela continually attaches importance to all-around cooperation with the Southeast Asian nation.

Hailing Vietnam’s goods production capacity, especially in agriculture, President Maduro said Venezuela plans to enhance its trade ties with Vietnam and will enact measures to reach cooperation agreements between the two countries’ businesses, targeting a trade value of 1 billion USD.

He suggested the two sides identify commitments, initiatives and areas of cooperation to be implemented first in order to stimulate bilateral collaboration.

The Venezuelan leader said three agricultural cooperation projects are being implemented in his country’s central region, noting Venezuela will ensure capital, material conditions and equipment to welcome Vietnamese investors this October.

In response, Deputy PM Hai said economic and trade ties between Vietnam and Venezuela have yet to match the two countries’ potential and strength.

He called on Vietnamese and Venezuelan businesses to increase exchanges and take initiative in seeking cooperation possibilities and extract opportunities offered by trade promotion programmes between the two countries.

Since Vietnam and Venezuela established diplomatic relations 25 years ago, apart from politics, diplomacy and culture, the two countries have also paid heed to economic, trade and investment ties, he said.

Hai cited the bilateral trade turnover which climbed from 20 million USD in 2010 to over 62 million USD in 2014.

The official said the two countries boast strong potential for cooperation in energy, oil and gas, consumer goods production, healthcare, science-technology and agriculture.-VNA