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Vietnam, Uruguay seek ways to boost cooperation

Trade ties between Vietnam and Uruguay have still not been commensurate with the potential of the two countries, delegates heard at the third meeting of the Vietnam - Uruguay Joint Committee for Economic, Trade and Investment Cooperation held online recently in Hanoi and Montevideo.
Vietnam, Uruguay seek ways to boost cooperation ảnh 1Illustrtive photo (Photo: VNA)

Hanoi (VNA) – Trade ties between Vietnam and Uruguay have still not been commensurate with the potential of the two countries, delegates heard at the third meeting of the Vietnam - Uruguay JointCommittee for Economic, Trade and Investment Cooperation held online recently in Hanoi and Montevideo.

Co-chairing the meeting, Vietnamese Deputy Minister of Industry andTrade Do Thang Hai and Uruguayan Deputy Foreign Minister Nicolás Albertoniemphasised that it is necessary to promote the Vietnam-Uruguay cooperation within bilateraland multilateral frameworks, diversify the structure of import and exportproducts, and step up trade promotion activities, connect and support theirbusiness communities to understand the market and find business opportunities.

At the meeting, the two sides exchanged views on cooperationbetween Vietnam and Uruguay in the fields of economy, trade, investment,finance, agriculture, science, and technology, and reviewed the results theyachieved since the second meeting of the joint committee held in October 2021.

They also discussed and proposed affairs to do in the comingtime to promote the bilateral cooperation.

For agricultural cooperation, the two sides welcomed theestablishment of direct contacts to continue exchanging views on technical issuesin the licensing process for potential agricultural products into each other'smarkets.

In addition, many new cooperation contents have beenproposed such as cooperation in food safety, customs, science and technology,software, wood exploitation, and processing.

At the end of the meeting, the two deputy ministers agreed tocontinue working closely to effectively implement the contents agreed at themeeting towards the 30th anniversary of the establishment of diplomaticrelations between the two countries.

In 2022, the total import-export turnover between the twocountries reached 190.5 million USD, a sharp increase of 106.5 % compared to2021. Vietnam's exports to Uruguay raked in 102.9 million USD, up 76.7% whileVietnam's imports from Uruguay hit 87.6 million USD, up 157.2%./.

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