Diplomat: A Bid Stride Expected for Vietnam-Gulf Ties

A big stride is hoped for bilateral ties between Communist Vietnam and Gulf countries in the near future, particularly in economics and trade amid the global downturn after Vietnam’s prime minister’s visit, a deputy foreign minister said.

 

“A bid stride is expected to be made between Vietnam-Gulf cooperation, particularly potential fields of the two countries in the near future,” Deputy Foreign Minister Dao Xuan Hung told Vietnamese press circles after Mr Dung has just wrapped up his first-ever visit as a prime minister.

 

“Mr Dung’s visit to the Gulf will open a new chapter in bilateral ties between Vietnam and Qatar and Kuwait,” Hung noted.

 

During Mr Dung’s working trip to the Gulf this time from March 7 to 12, Vietnam and the Gulf countries of Qatar and Kuwait have signed a number of very important deals as part of efforts to beef up the ties.

 

Vietnam has reached double taxation avoidance agreements with both Qatar and Kuwait, particularly setting up of the US$1 billion fund to help boost ties with Qatar.

 

Vietnam’s trade with Kuwait jumped threefold to US$150 million last year while its trade with Qatar was modest at US$80 million, doubling 2007’s figures.

 

Amid the widely-spreading global downturn, seeking to boost export markets and search for new partnership in the oil-rich Gulf to ensure its security of energy and increase sales of more rice, sending more laborers, a potential remittance source while enticing FDI inflows are high on Mr Dung’s visit, observers said.

 

As its key exports markets of EU, the U.S. and Japan are falling into recession and will take a time to recover, they said.

 

Communist Vietnam is taking bold steps in pursuing to expand trade with Africa to US$2.5 billion this year. (chinhphu.vn)