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Vietnam, Saudi Arabia meet to promote cooperative ties

Vietnam and Saudi Arabia held the second meeting of their Joint Committee on Economic, Scientific and Technological Cooperation in Hanoi on March 26.
Vietnam and Saudi Arabia heldthe second meeting of their Joint Committee on Economic, Scientificand Technological Cooperation in Hanoi on March 26.

Signatoriesof the meeting minutes include Deputy Minister of Industry and Trade LeDuong Quang, who headed the Vietnamese team at the committee, and AhmedH. Salah, Deputy Minister of Economics-Planning and leader of the SaudiArabian delegation 

During the meeting, both sides underscoredthe implementation of cooperation programmes to ensure energy securityand food for the two countries. They also closely explored measures toactivate Saudi initiatives on pouring money into foreign markets.

The two sides prioritised bilateral future collaboration inagriculture, oil and gas, and agreed to step up negotiations securinginvestment protection, marine transportation and cooperation betweentheir press agencies. 

Saudi Arabia hopes to sign a memorandumof understanding with the Vietnamese Ministry of Culture, Sports ofTourism in the fields of youth development and sports. 

According to the Ministry of Industry and Trade, two-way trade betweenVietnam and Saudi Arabia has grown rapidly, hitting 1.71 billion USD in2013 from 1.04 billion USD from 2011. 

Last year, Vietnam’sexports to Saudi Arabia reached 471.4 million USD, with major currencyearners being agricultural products, seafood, rice and apparel.Meanwhile, it imported 1.2 billion USD worth of goods from thecountry.-VNA

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