Measures to further boost the trade relationship between Vietnam and Kuwait in the coming time topped the agenda of a meeting held in Hanoi on Dec. 18 by Vietnam ’s Ministry of Industry and Trade.

At the first working session of the two countries’ joint committee on cooperation in economy and science, Vietnam and Kuwait officials focused on how to work together in ensuring food and energy security. Accordingly, Vietnam is expected to provide staple foods and foodstuff to Kuwait while Kuwait provides crude oil and petroleum products to Vietnam .

Vietnam will also step up its investment promotion programme and create favourable conditions for Kuwaiti investors to do business in Vietnam , especially in the fields of infrastructure, oil and gas, energy, high-quality service and electricity.

Besides, Vietnam asked Kuwait to continue its financial support through the Arabian Economic Development Fund to Vietnam ’s projects on rural infrastructure and irrigational system.

The two sides reached a consensus that they should increase their information exchange to promote two-way trade on agricultural, aquatic and forestry products, especially Vietnamese strengths including rice, coffee and seafood.

Statistics from the Ministry of Industry and Trade showed that trade value between Vietnam and Kuwait in the January-September period reached 45 million USD of which, Vietnam exported to Kuwait goods valued at 30.5 million USD and imported from the country 14.5 million USD. Last year, the two-way trade reached 117 million USD with over half of them–or 77 million USD worth–of Kuwaiti exports.

After the working session, Minister of Industry and Trade Vu Huy Hoang and Kuwaiti Minister of Trade and Industry Ahmed Rashid Al-Haroun signed minutes of the meeting, which according to Minister Hoang covered many significant fields and will give impetus to trade ties between the two sides./.