Business

Deputy PM: trade-economic cooperation pillar of Vietnam-Turkey ties

Trade and investment cooperation is a crucial pillar for Vietnam and Turkey to deepen the bilateral ties for the prosperity of each nation, Deputy Prime Minister Vuong Dinh Hue said at the Vietnam-Turkey Business Forum in Hanoi on August 24.
Deputy PM: trade-economic cooperation pillar of Vietnam-Turkey ties ảnh 1Deputy Prime Minister Vuong Dinh Hue at the Vietnam-Turkey Business Forum. (Photo: baochinhphu.vn)

Hanoi (VNA) – Trade and investment cooperation is a crucial pillar forVietnam and Turkey to deepen the bilateral ties for the prosperity of eachnation, Deputy Prime Minister Vuong Dinh Hue said at the Vietnam-TurkeyBusiness Forum in Hanoi on August 24.

TheDeputy PM noted that Vietnam and Turkey share a number of similarities with fast-growingeconomies which have integrated deeper into the global economy. Two-way tradestood at nearly 2 billion USD in 2016 and is growing fast towards the goal of 4billion USD in 2020. Currently, Turkish investors run 13 projects valued at 730million USD in Vietnam. The two countries have signed agreements on doubletaxation avoidance and investment encouragement and protection.

However, there is plenty of room for the two countries to step up theirpartnership in industry, investment, agriculture, culture, tourism, education,oil and gas and maritime navigation, among others, Hue stressed.

He urged the business communities of both sides to become the leading force in carryingout bilateral economic-trade cooperation agreements.

Meanwhile, Turkish Prime Minister Binali Yildirim recommended that legalcorridor should be more open and transparent to support effective operation ofthe enterprises.

He said the two countries need a free trade agreement to promote connectionsbetween two business communities.

With total population of more than 170 million people and gross domesticproducts valued at more than 2 trillion USD, the Turkish leader believed that thetwo-way trade revenue of 2 billion USD is far below the two countries’potential.

Turkish businesses have begun to study the Vietnamese market with the intentionof making investment in infrastructure and healthcare, the fields that theyhave a wealth of experience, he added.

The business forum was jointly held by the Vietnam Chamber of Commerceand Industry (VCCI) and the Foreign Economic Relations Board of Turkey (DEIK) onthe occasion of the official visit of the Turkish Prime Minister.-VNA

VNA
#Trade and investment cooperation #bilateral ties #Vietnam #Turkey #bilateral economic-trade cooperation agreements #free trade agreement #Vietnam-Turkey Business Forum #Vietnam newes #vietnamplus Turkey
Follow VietnamPlus

Related News

Turkey applies temporary measure on Vietnamese yarn

Turkey applies temporary measure on Vietnamese yarn

The General Directorate for Imports under the Turkish Ministry of Economy has slapped a temporary duty of 36.28 percent on partially oriented yarn (POY) products imported from Vietnam, according to the Vietnamese office of commercial affairs in Turkey.

See more

Delegates at the seminar in Bangkok on June 17. (Photo: VNA)

Thanh Hoa seeks stronger cooperation with Thai businesses

Mai Xuan Liem, Permanent Vice Chairman of the Thanh Hoa People’s Committee, said Thailand is one of the province’s important export markets, with export turnover reaching more than 12 million USD in the first five months of 2026.

Delegates press the button to officially launch the Doan Hung Industrial Park – AMATA City Phu Tho project at the conference. (Photo: VNA)

Vietnam, Thailand strengthen investment ties, smart city cooperation

Thailand is currently Vietnam's largest trading partner within ASEAN, while Vietnam ranks as Thailand's sixth-largest trading partner globally. Bilateral trade reached 22.07 billion USD in 2025, with both sides aiming to increase the figure to 25 billion USD in the coming years. Thailand also has 805 valid investment projects in Vietnam with a combined registered capital of 15.4 billion USD.

Deputy Prime Minister Nguyen Van Thang speaks at the meeting with ministries and sectors in Hanoi on June 17 to review public investment disbursement and address bottlenecks affecting ODA projects. (Photo: VNA)

Deputy PM requests faster disbursement of ODA-funded projects

As of June 15, the disbursement rate for public investment funded by external sources had reached only 9.99% of the assigned plan. Although the figure was higher than in the same period last year, it remained well below the national average. Notably, one out of eight ministries and central agencies and 13 localities had yet to disburse any allocated capital.

Sorting green-skinned pomelos for export at the processing facility of Vina T&T Group in Vinh Long province. (Photo: VNA)

Vietnamese fruits strengthen foothold in China

The expansion of fruit trade has been supported by the implementation of the Regional Comprehensive Economic Partnership (RCEP) and ongoing efforts to upgrade the China – ASEAN Free Trade Area.

Production line for camera modules and electronic components at the factory of the Korean-invested MCNEX VINA Co., Ltd, located in Phuc Son Industrial Park, Ninh Binh province. (Photo: VNA)

High-tech FDI attraction set as strategic priority: official

The resolution sets out a number of specific targets for foreign investment attraction during the 2026–2030 period. Annual registered FDI is targeted at between 40 billion USD and 50 billion USD, while realised capital is expected to reach approximately 30–40 billion USD per year.

Production of electronic components at DBG Technology Vietnam Co., Ltd. in Yen Binh Industrial Park, Thai Nguyen province. (Photo: VNA)

Vietnam’s trade surplus with EU expands amid economic headwinds

Trade between Vietnam and the EU maintained momentum during the January–May period, supported by the EU – Vietnam Free Trade Agreement (EVFTA) and sustained demand for key Vietnamese exports, even as the EU grappled with inflationary pressures and sluggish consumer spending.

Containers are unloaded at Nghi Son International Port in Nghi Son ward, Thanh Hoa province. (Photo: VNA)

Vietnam eyes to shape national maritime industrial ecosystem

These advantages provide a strong foundation for the development of the marine economy and logistics services. As a result, the marine economy has been identified as a national strategic priority, with the coordinated development of maritime transport, seaports and shipbuilding serving as a key pillar in shaping a sustainable national maritime industrial ecosystem.

The road to the VSIP Can Tho Industrial Park connecting with National Highway 80 is under construction. (Photo; VNA)

Vietnam draws harder line on FDI quality under new resolution

The Ministry of Finance’s Foreign Investment Agency reported that total registered FDI neared 25 billion USD in the first five months of this year, a jump of almost 35% from a year earlier, with new project registrations driving the bulk of the expansion.