The Foreign Ministries of Vietnam and Paraguay held their first political consultation in Hanoi on April 24, during which they agreed to accelerate negotiations for the signing of agreements, thus creating a legal framework for bilateral cooperation.

The two sides said priority will be given to partnership in economics, trade, investment, waterway transport, agriculture, fishery and mining.

They noted that bilateral ties are growing with two-way trade increasing fivefold from 2010 to about 100 million USD in 2014, but there is great room for further expansion.

The two sides agreed to work more closely to facilitate the exchange of delegations at all levels and among localities as well as partnership among enterprises.

Both sides pledged to promote affiliation and mutual support at international organisations, while coordination closely in holding activities celebrating the 20th anniversary of diplomatic ties this year.

They spoke highly of the role that the political consultation mechanism between the two ministries plays in boosting the bilateral multi-faced cooperation.

The two sides also discussed regional and international issues of mutual concern, expressing support for the stance of settling disputes through peaceful dialogues in conformity with international law, including the 1982 United Nations Convention on the Law of the Sea.

Earlier the same day, the Paraguay delegation, led by Acting Foreign Minister Luis Fernando Ávalos, was received by Deputy Foreign Minister Nguyen Quoc Cuong.

During the visit, which will last until April 27, the Paraguay delegation is scheduled to hold working sessions with leaders of Ministries of Planning and Investment, Industry and Trade, and Transport.-VNA