Uzbekistan, Vietnam to expand trade, economic and investment cooperation

Tashkent, The Gulf Observer: During the visit to the Socialist Republic of Vietnam, negotiations between Minister of Investment, Industry and Trade of the Republic of Uzbekistan Laziz Kudratov and Minister of Industry and Trade of Vietnam Nguyen Hong Dien took place in Hanoi.

During the conversation, issues of deepening trade, economic, and investment partnerships, developing industrial cooperation and enhancing joint work in transport and logistics areas were discussed.

In particular, the sides noted a twofold increase in trade turnover between Uzbekistan and Vietnam in recent years. Taking into account the existence of a significant untapped potential in this direction, an agreement was reached to accelerate the consideration and conclusion of an Agreement on Cooperation and Mutual Assistance in Customs Matters. In addition, the issue of forming a joint working group to develop proposals for increasing the volume and diversifying the nomenclature of mutual trade was agreed.

Issues relating to transport and logistics cooperation were discussed, bearing in mind the elaboration of the most effective logistics routes.

Following the meeting, the mutual commitment was expressed to further strengthen cooperation within the framework of the discussed projects. It was also agreed to hold a regular meeting of the Uzbek–Vietnamese Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation as well as a joint business forum.