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Vietnam to produce tea, coffee in Belarus

Economy 14.03.2019 | 15:21
Pham Hai and Mikhail Myasnikovich
Pham Hai and Mikhail Myasnikovich

MINSK, 14 March (BelTA) – Plans are in place to set up a Belarus-Vietnam joint venture to produce tea and coffee in Belarus, Vietnam's Ambassador to Belarus Pham Hai said as he met with Chairman of the Council of the Republic Mikhail Myasnikovich, BelTA has learned from the press service of the Council of the Republic.

The parties discussed the prospects for bilateral trade and economic cooperation. “We will work on the plan to open a joint tea and coffee manufacture in Belarus with Belarusian and Vietnamese partners,” Pham Hai said. He pointed out that Vietnam is implementing two large projects in cooperation with Belarusian companies, namely to launch the production of freight vehicles and dairy products. The Ambassador expressed confidence that these projects will contribute to bilateral trade growth. “Belarus and Vietnam should move from simple trade to industrial cooperation, joint ventures. This approach will help the two countries to hit $500 million in mutual trade,” he noted.

Ambassador Pham Hai thanked Mikhail Myasnikovich for his contribution to trade and economy cooperation between the two countries. The Ambassador also informed that Chairwoman of the Vietnamese National Assembly Nguyen Thi Kim Ngan intends to travel to Minsk on an official visit in 2019.

Pham Hai
Pham Hai

Mikhail Myasnikovich, in turn, noted that the visit of the Vietnamese Speaker will give an impetus to bilateral cooperation, new joint projects. “It is time we stepped up cooperation in investment and industry,” he said. He suggested speeding up the implementation of joint projects in Vietnam and asked Vietnam's authorities to assist the early adoption of necessary documents to launch these ventures.

Mikhail Myasnikovich
Mikhail Myasnikovich

The parties also discussed the prospects for the joint plant MAZ-Asia and terms of supplying Belarusian raw materials to produce dairy products in Vietnam. Belarus is ready to build up supplies of equipment in demand in the Vietnamese market, including tractors. In 2018, their export rose more than threefold over 2017. This is not the limit, Mikhail Myasnikovich noted.

He noted that Belarus is keen to increase import of Vietnam's coffee, fish, leather materials for footwear production, etc.

Mikhail Myasnikovich expressed confidence that Belarus and Vietnam have potential to step up bilateral cooperation in areas of mutual interest. He called to focus on the agreement to establish a free trade zone between the EAEU and Vietnam. Mikhail Myasnikovich pointed out that this is a very promising area and asked Vietnam's government bodies to boost work on it. “We have to take advantage of this and build up mutual trade,” he added.

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