Hanoi (VNA) – Vietnamese President Luong Cuong’s state visit to Egypt from August 3 to 6 holds strategic significance and is expected to exert a lasting impact on the advancement of bilateral relations, as both nations embark on a new era of growth and development, according to Vietnamese Ambassador to Egypt Nguyen Huy Dung.
This is the first state visit to Egypt in seven years, since President Tran Dai Quang’s trip in 2018. This trip is a significant political and diplomatic event for both countries, carrying special meaning as it reflects a strong commitment to creating breakthroughs, elevating bilateral relations, reinforcing political trust, and further deepening the traditional friendship. It is expected to serve as a driving force and open up a new phase of cooperation, particularly in the fields of economy and trade, between Vietnam and Egypt, as well as with other African nations.
President Cuong is scheduled to hold talks with his Egyptian counterpart Abdel Fattah El-Sisi; meet with Prime Minister Mostafa Madbouly, Senate President Abdel-Razeq, and House of Representatives Speaker Hanafy el-Gebaly; and deliver a policy speech at the headquarters of the Arab League (AL).
On this occasion, he will also meet with staff of the Vietnamese Embassy and relevant agencies, along with representatives of the Vietnamese community there, according to Dung.
Since the establishment of diplomatic relations in 1963, the traditional friendship has achieved remarkable progress and been expanded across various fields, on the basis of friendship, equality, mutual respect, and win-win cooperation, for the benefit of both peoples.
To further enhance political trust and elevate the bilateral relationship in a more comprehensive and substantive manner, during this state visit, the two sides expect to soon upgrade their ties to a Comprehensive Partnership to open up new avenues with great potential for cooperation and deepen the friendship towards a shared prosperous future. Both sides will also seek to develop and better utilise new cooperation mechanisms based on respect for international law, independence, sovereignty, territorial integrity, and each country's political systems, the diplomat noted.
He went on to say that Egypt was the first North African country to officially recognise Vietnam as a full market economy, in November 2013. It is an important market for Vietnam in the region, with bilateral trade reaching 541.36 million USD in 2024 – the highest in North Africa. Of this amount, Vietnam recorded a trade surplus of 472.63 million USD.
Currently, one Vietnamese enterprise is investing in Egypt with a total capital of about 30 million USD, and one Vietnamese garment company has established a joint venture with an Egyptian partner. As of late 2024, Vietnamese commercial banks had set up 46 dealer relationships with Egyptian banks, with total two-way payment and remittance transactions reaching approximately 235 million USD – the highest in the African region.
Meanwhile, Egypt now has 22 investment projects registered in Vietnam, with a total capital of around 2.78 million USD.
Dung also noted the cooperative relations between the two sides' localities, as well as educational collaboration with Egypt's scholarships in the Arabic language for Vietnamese students.
Within multilateral frameworks, the two countries have maintained close coordination and mutual support at forums such as the United Nations (UN), the Non-Aligned Movement (NAM), the African Union (AU), and the Association of Southeast Asian Nations (ASEAN). At present, they continue to coordinate and support each other at multilateral forums while serving as bridges to strengthen each other's cooperation with ASEAN and Arab countries, for the benefit of the two peoples and for peace, cooperation, and development in the two regions.
Regarding bilateral collaboration in the coming time, the ambassador affirmed that Vietnam and Egypt boast ample potential for cooperation at both bilateral and multilateral levels. They possess complementary strengths for mutual development, as both are large markets with populations exceeding 100 million and hold important geostrategic positions in the world.
Moreover, the countries share many geopolitical and historical similarities, a longstanding and positive political relationship, along with deep mutual affection between their peoples. These factors constitute a solid foundation and a strong advantage for fostering a comprehensive partnership between Vietnam and Egypt in the coming period.
He added that Vietnam can access the Middle East and North Africa (MENA) market through Egypt thanks to the latter's strategic location at the crossroads of Asia, Africa, and Europe. In return, Egypt can regard Vietnam as a gateway for exporting goods to the vast ASEAN market.
In addition, the countries have the potential to serve as strategic bridges between ASEAN and MENA, particularly in the fields of multilateral diplomacy, trade, investment, infrastructure connectivity, logistics, culture, education, and tourism, said Dung./.
VNA
