President Tran Dai Quang’s Bangladesh visit aims for 1 billion USD trade hinh anh 1Vietnamese President Tran Dai Quang (Source: VNA)

New Delhi (VNA)Vietnamese President Tran Dai Quang’s three-day state visit to Bangladesh looks to intensify trade and investment promotion, and create favourable conditions for businesses between the two countries to achieve a two-way trade goal of 1 billion USD, according to the newspaper "Daily Star".

The Bangladeshi newspaper quoted a high official at the foreign ministry as saying that the bilateral trade volume between Bangladesh and Vietnam was increasing.

On its article published on February 28 ahead of President Tran Dai Quang’s visit, which will start on March 4, the paper said “Bangladesh and Vietnam are enjoying economic cooperation, with trade reaching 609 million USD in 2016 from only 93 million USD in 2009. Bangladesh exports pharmaceuticals, raw materials for garments and machinery to Vietnam, while Vietnam's major exports to Bangladesh include iron, steel, fibre, textiles, plastics, rubber and electronics.”

It went on that “Dhaka is eager to connect itself with the Association of Southeast Asian Nations, whose members are Vietnam, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand and the Philippines. It will seek support from Hanoi for its regional integration.”

According to the paper, the diplomatic circle in Dhaka consider the upcoming visit significant as it will be able to avail the opportunity to seek support from Vietnam for a durable solution to the Rohingya crisis.

“The two countries are likely to sign about half a dozen agreements and memorandums of understanding for promotion of trade, investment, connectivity and cooperation during the visit,” it said.

President Quang will visit Dhaka at the invitation of his Bangladeshi counterpart Abdul Hamid. He will fly in Dhaka from New Delhi after a three-day visit to India.

President Hamid visited Vietnam in August 2015, Prime Minister Sheikh Hasina in November 2015 and Speaker of the Jatiya Sangsad Shirin Sharmin Chaudhury in July 2017.

The paper quoted diplomatic sources as saying that ahead of Quang's visit, both the sides reached a consensus that Bangladesh and Vietnam should intensify experience sharing, help each other in gender equality and poverty reduction, and cooperate in the fields of defence, aquaculture, education-training, culture and tourism.

Some 100 business representatives from top Vietnam companies will accompany the Vietnamese president and interact with their Bangladesh counterparts and explore trade and investment potentials in Bangladesh.

A business forum will be held at the Pan Pacific Sonargaon Hotel on March 6.

Bangladesh and Vietnam established diplomatic relations on February 17, 1973. Since then, the friendship and cooperation between the two states have been enhanced in a wide range of areas, especially economy and trade.-VNA