Kazakhstan is ready to increase exports to Vietnam

This was stated by Vice Minister of Trade and Integration Kairat Torebayev during the 10th meeting of the Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation between Kazakhstan and Vietnam, which took place in Hanoi.

In order to increase mutual trade, Kazakhstan is ready to supply about 90 processed goods of various industries worth $530.8 million to the Vietnamese market, he said.

The Intergovernmental Commission, chaired by Kairat Torebayev and Deputy Minister of Industry and Trade of Vietnam Dang Hoang An, confirmed the desire of the two countries to strengthen bilateral cooperation in various fields.

Ambassador of Kazakhstan E.Baizhanov drew the attention of the participants to the fact that the current meeting is an important event for the preparation of the planned official visit of the President of Kazakhstan K. Tokayev in 2023 to Vietnam. In order to bring the Kazakh-Vietnamese partnership to a new level, E.Baizhanov proposed to introduce new institutional forms of interaction, such as a joint investment fund, an export-import bank, a trading house. "1Without such conscious efforts at the government level, the development of economic cooperation will remain at the same level, it will develop spontaneously» the Ambassador noted.

The parties agreed that Kazakhstan and Vietnam, being parties to the Free Trade Agreement between the Eurasian Economic Union and the Socialist Republic of Vietnam, will continue to work together to expand exports and imports of goods, provide preferences for business circles of the two countries, support investments, and create joint ventures.

The Commission noted with satisfaction the growth of bilateral trade (according to Vietnamese statistics, it reached $615.5 million in 2021), the achievement of agreements on the mutual abolition of visa requirements for citizens of the two states. The need to create a Kazakh-Vietnamese Business Council was noted.

The Commission recommended working out the signing of memorandum of cooperation between KazakhExport and QazTrade with the Trade Promotion Agency under the Ministry of Trade and Industry of Vietnam, agreements on cooperation in the field of veterinary medicine, on the dissemination, translation and adoption of national standards, a memorandum of understanding between the National Agrarian University of Kazakhstan and the Academy of Agriculture of Vietnam.

In order to restore the partnership in the post-pandemic period, the parties will resume work on the creation of a Subcommittee on Agriculture, the first meeting of which will be held early next year.

The Commission also called for the strengthening of twinning relations between the cities of Astana and Hanoi, the resumption of the cooperation agreement between the cities of Almaty and Ho Chi Minh City.