Vietnam, Turkey agree to work for 4 billion USD in two-way trade

Vietnamese Prime Minister Pham Minh Chinh and Vice President of the Republic of Turkey Cevdet Yilmaz agreed on the need to increase practical, effective economic cooperation activities in order to soon bring the two-way trade to 4 billion USD at their talks in Ankara on November 29.

Yilmaz called Chinh’s official visit, the first by a Vietnamese PM to Turkey, an event of historic importance as it is taking place at the 45th anniversary of the bilateral diplomatic relations (1978-2023).

He affirmed that Turkey considers Vietnam one of the top priority partners in the Association of Southeast Asian Nations (ASEAN), especially in the fields of economy, trade, and investment, national defence-security, and tourism.

Chinh expressed his joy at socio-economic achievements Turkey has achieved recently, notably its G20 membership and growing role and influence in the region, saying he believes that Turkey will grow further in the coming time, thereby opening up new opportunities for cooperation between the two countries.

The two sides informed each other about the political and socio-economic situation in their respective countries, and exchanged views on international and regional issues of mutual concern.

Both affirmed their desire and determination to promote the friendship and multifaceted cooperation between the two countries for the sake of their people, and for peace, stability and development in the two regions and the world, aiming to soon upgrade the relationship in the near future.

They agreed to further consolidate and strengthen the good political and diplomatic ties, as well as cooperation between the two ruling Parties, coordinate and support each other at international forums and organisations, and increase delegation exchanges at all levels, especially the high-level ones.

Chinh invited Yilmaz to pay an official visit to Vietnam in 2024, which, he said, is expected to contribute to bringing the bilateral cooperation to a new height. Yilmaz accepted the invitation with pleasure and looked forward to making the visit soon.

The PM told his host that the Vietnam Red Cross Society will continue to send 14.6 billion VND (601,566 USD) raised by individuals and organisations at home to support Turkish people in overcoming the consequences of the earthquake in February.

Yilmaz appreciated the support from the Vietnamese Government and people to Turkey in dealing with natural disaster consequences, and affirmed that Turkey stands ready to assist Vietnam when facing difficulties. The Turkish side also thanked Vietnam for approving the opening of the Turkish Consulate General in Ho Chi Minh City.

For economic cooperation, Yilmaz said it is growing positively, towards a more balanced manner. To raise the trade ties, the two sides agreed to open door for each other's agricultural products, and others of their strengths, accelerate free trade agreement negotiations at the eighth Joint Economic Commission meeting, and increase cargo flights.

In the field of Halal, Turkey pledged to help Vietnam develop the industry, thereby contributing to raising the bilateral trade turnover.

Chinh stressed that Turkey is Vietnam’s largest investor from the Middle East, with a total registered capital of nearly 1 billion USD, and promised all possible conditions for Turkish groups and businesses to invest in the Southeast Asian nation in such priority areas as industrial production, high-tech agriculture, consumption, green economy, and innovation.

Yilmaz lauded the success of Vietur, a consortium led by a Turkish company, at the Long Thanh international airport project and expressed his wish that the sides will make greater efforts to improve the efficiency of investment cooperation in the time ahead.

The two sides also consented to boost cooperation in defence industry, step up information exchange, and enhance collaboration in crime combat, technical training and experience sharing in search and rescue and relief efforts.

Regarding tourism cooperation, the two leaders concurred to promote information exchange, participate in major international tourism events in respective countries, and consider simplifying visa procedures to further facilitate travelling.

Both sides said they are ready to share knowledge, increase exchanges and foster cooperation in other potential fields like agriculture, renewable energy, science and technology, innovation, digital transformation.

Chinh proposed that the Turkish side consider employing more Vietnamese workers in projects with Turkish enterprises as contractors.

The two agreed to hold the next meeting of the Joint Economic Commission in the first quarter of 2024 to review and remove obstacles to specific cooperation projects, accelerate negotiations and sign important cooperation documents in defence-security, labour and agriculture.

Chinh suggested the Turkish Government create more favourable conditions for the Vietnamese community there to integrate into the host society, contributing to the development of Turkey as well as the bilateral relations.

After the talks, host and guest witnessed the signing of a number of cooperation documents in different spheres, and co-chaired a press conference to announce the results of the talks.

The document included the MoU on Agriculture and Forestry Cooperation between the Ministry of Agriculture and Rural Development of Vietnam and the Turkish Ministry of Agriculture and Forestry, another on cooperation between the Diplomatic Academy of Vietnam and the Diplomacy Academy of the Ministry of Foreign Affairs of Turkey, and the Letter of Intent on Cooperation between Vietnam Airlines and Turkish Airlines.