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

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