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Vietnam promotes economic, trade, investment cooperation with Central Asian countries

The Ministry of Industry and Trade (MoIT) will take measures to promote economic, trade and investment cooperation between Vietnam and five Central Asian countries (C5) of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan.
Vietnam promotes economic, trade, investment cooperation with Central Asian countries ảnh 1Headquarters of the Ministry of Industry and Trade in Hanoi. (Photo: VNA)

Hanoi (VNA) –The Ministry of Industry and Trade (MoIT) will take measures to promote economic, trade and investment cooperation between Vietnam and five CentralAsian countries (C5) of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, andUzbekistan.

According to the ministry,those countries have good traditional friendship relations withVietnam and leaders of the two sides have paid muchattention to promoting their cooperation. However, Vietnam-C5 economic, trade,and investment cooperation are still modest despite their great potential.

Meanwhile, C5 is emerging asa region of geopolitical and geo-economic importance in the world and many largeeconomies such as the US, China, Russia, Turkey, and the EU are promoting theircooperation with it.

Building and implementingcomprehensive solutions to promote economic trade and investment cooperationbetween Vietnam and C5 countries is essential, the ministry said.

In a recent notice, the ministry asked relevantdepartments and agencies to implement measures including perfecting the legal framework for economic-trade cooperation between Vietnam andC5 countries, developing a project on economic and trade promotion, holding meetings at ministerial and deputy ministerial levels, and enhancing the work of the intergovernmentalcommittee mechanisms with Kazakhstan and Uzbekistan.

For Kyrgyzstan, Tajikistan, and Turkmenistan that currently do not have anintergovernmental committee mechanism with Vietnam, it is necessary to studyan economic and trade consultation mechanism to agree oncooperation frameworks between the two sides. 

The MoIT will coordinatewith the Ministry of Agriculture and Rural Development and relevantestablishments to work towards conclusion of agreements in the field ofplant and animal inspection, and mutual recognition of product quality certificates to support Vietnam's export activities to C5 countries.

The ministry will provide information on C5 countries to Vietnamese businesses and assist in seeking suitable and safe payment methods for trading with partners in this region.

In addition, the Departmentof Trade Promotion under the MoIt was asked to preside over and coordinate withresearch units to annually organise trade and investment promotion delegationsto attend large and prestigious fairs, exhibitions, and seminars held in C5countries. Vietnam will boost promotions for Vietnamese industries, brands, andproducts to C5 businesses and consumers./.

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