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Belarus, Vietnam urged to bolster trade

Economy 12.12.2019 | 18:43
Igor Lyashenko
Igor Lyashenko

MINSK, 12 December (BelTA) - Belarus and Vietnam should substantially increase trade, Belarus Deputy Prime Minister Igor Lyashenko said during a meeting with Vietnam's Deputy Prime Minister Vuong Dinh Hue, BelTA has learned.

Igor Lyashenko recalled that in September this year he visited Vietnam and thanked for the warm welcome. During the current visit the Vietnamese delegation already held meetings with the president and the heads of parliament to discuss topical issues of cooperation. Now the parties will have to review in detail all possible areas of cooperation. The government is tasked with reaching a qualitatively new level of relations, with bringing the trade to $500 million (projected at about $200 million by the end of the year).

“I am ready to use your help and expertise, to get advice on the action our industries should take to achieve the goal of increasing the trade to $500 million in the coming years,” Igor Lyashenko said addressing Vietnam's deputy prime minister.

For his part, Vuong Dinh Hue noted that the talks held in Hanoi in September this year were constructive and meaningful, and expressed interest in further development of mutually beneficial cooperation.

Belarus and Vietnam maintain dynamic dialogue, including at the supreme and high levels. The two countries have recently intensified cooperation in politics, trade and economy, science and humanitarian affairs. The two states also implement joint projects and actively develop inter-parliamentary ties.

In 2018, the trade between Belarus and Vietnam totaled $115.3 million, including $61.6 million in Belarusian exports and $53.7 million in imports. Belarus posted a trade surplus of $7.9 million. Belarus' main exports to Vietnam include potash fertilizers, trucks, tractors, haulers, tyres. Food products and other goods. Belarus imports Vietnamese nuts, rubber, fish products, integrated circuits, footwear and coffee.

In January-September 2019, Belarus-Vietnam trade made up $154.3 million. The Belarusian exports totaled $83.9 million, the imports - $69.5 million. Belarus' trade surplus reached $14.4 million.

The Belarusian-Vietnamese company MAZ Asia assembles trucks in Vietnam. Belarus views cooperation with Vietnam as one of the priorities of its foreign policy in the Asian region.

The goal to reach $500 million in trade was set in mid 2017 during the visit of former President of Vietnam Tran Dai Quang to Minsk.

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