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Vietnam, Turkey target 4 billion USD by 2020

Vietnam and Turkey agreed to strive for a two-way trade of 4 billion USD by 2020 during the seventh meeting of the Vietnam-Turkey Joint Committee in Hanoi on July 13.
Vietnam, Turkey target 4 billion USD by 2020 ảnh 1Illustrative image (Source: Internet)
Hanoi (VNA) – Vietnam and Turkey agreed to strive for a two-way trade of 4billion USD by 2020 during the seventh meeting of the Vietnam-Turkey JointCommittee in Hanoi on July 13.

Themeeting was chaired by Vietnamese Minister of Industry and Trade Tran Tuan Anhand Turkish Minister of Labour and Social Security Mehmet Muezzinoglu.

Muezzinoglusuggested launching negotiations on a bilateral free trade agreement while theVietnamese side asked Turkey to recognise Vietnam as a market economy andminimise trade defence measures against Vietnam’s exports.

Inindustry, the Vietnamese Ministry of Industry and Trade’s Agency for RegionalIndustry Development and the Small and Medium Industry Development Organisationof Turkey (KOSGEB) signed an action plan to continue promoting joint work in smalland medium-sized enterprise affairs.

Asregards investment, the two sides reached consensus on the contents of amemorandum of understanding (MoU) on cooperation in the management of economic,industrial and processing zones.

Theyalso agreed on the contents of the MoU on customs cooperation between the FinanceMinistry and the Turkish Ministry of Customs and Trade.

Bothsides were unanimous on collaboration between the Directorate for Standards,Metrology and Quality and the Turkish Standards Institution.

Thetwo countries are actively refining contents towards signing agreements onstatistics, science and technology, labour, education and training, culture,tourism, health care, natural resources and the environment.

Collaborationin energy, food processing, construction, machinery and equipment will also bestrengthened.

Ata ceremony to sign the minutes of the meeting in the afternoon, Minister Anhsaid Vietnam and Turkey already signed agreements on aviation transport,navigation and double taxation avoidance.

Turkeylaunched direct flight services connecting Hanoi and Ho Chi Minh City.

Inthe first five months this year, two-way trade between the two nations reached724.6 million USD, 634.9 million USD of which was Vietnam’s exports, mostlycell phones, fibers, computers, electronics and spare parts, rubber, machineryand equipment, iron and steel, apparel, peppercorns, cashew nuts, wood andwooden furniture, fisheries, footwear and handicraft items.-VNA

VNA
#two-way trade #Vietnam-Turkey Joint Committee #bilateral free trade agreement #Small and Medium Industry Development Organisation of Turkey #customs #MoU #direct flight services Turkey Vietnam
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