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Vietnam and Bangladesh will strive to bring trade between 2 countries reach over US $ 1 billion

Sun, 23 Jul 2017 15:30:28 PM GMT + 7    Print   Email   Share:

With a wide range of potential cooperation in many areas, Vietnam and Bangladesh will strive to bring the trade between 2 countries to obtain over US $ 1 billion in the near future.

This is confirmed by the Chamber of Commerce and Industry of Vietnam (VCCI) in a meeting with a business delegation of Bangladesh on July 21, 2017. According to VCCI, the delegation of Bangladesh who visits Vietnam this time working in many fields such as agriculture, textiles, chemical, medical equipment...

At this meeting, Mr. Hoang Quang Phong, a Vice President of VCCI said that the visit of the delegation will be a bridge to promote economic and trade cooperation between the two parties, thereby shall increase the export turnover between two countries. According to Mr. Phong, the export turnover of two countries is still modestly under $ 600 million. Therefore, the potential for development and opportunities for cooperation in many fields of the two countries is still great.

 “Last year, Vietnam and Bangladesh also signed a trade agreement on rice exports. We hope that besides rice, we can develop trade in other products" VCCI Vice President said.

For the Bangladesh business delegation, Mr. Syed Mustafizur Rahman, President of the Chamber of Commerce and Industry of Bangladesh (BVCCI) said that the trade of the two countries is having strong development; the 2 countries also have many similar opinions for long term cooperation. Accordingly, Vietnam has exported many products to Bangladesh market such as rice, electronics ... In contrast; Bangladesh affirmed that besides pharmaceuticals, seafood, there are many other products that Vietnam has been demanding,  but this country has not fully utilized, so this is still a great potential for enterprises between 2 countries to exploit.

BVCCI President affirmed that he would always be ready to support Vietnamese enterprises when needed. At the same time, the Bangladesh party wishes to hold a conference where enterprises of the two countries meet face to face with each other to seek investment cooperation.

For more information, VCCI Vice President said in August (from 6/8 to 14/8/2017), Vietnam will organize business delegation to visit Bangladesh to seek investment opportunities. During this visit, the delegation determined that the two countries' business meetings are the highlight of the working program.

Vietnam and Bangladesh are agricultural countries, so we can exchange experiences in agricultural production, especially in high-tech agriculture, thereby increasing the value of agricultural products in the international market. With the potential of wide cooperation, we will strive to bring trade of the 2 countries reach US $ 1 billion in the coming time.

However, VCCC Vice President affirmed that in order to realize this goal, the two countries should institutionalize the memorandums and commercial contracts between the two parties.

  • By : Bui Hang/ Translator: HaiYen-Bizic

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