Vietnam, Timor-Leste Boosting Industry, Trade Cooperation
Vietnamese Minister of Industry and Trade Vu Huy Hoang and his Timor-Leste counterpart Gil da Costa A.N Alves signed memorandums of understanding (MoUs) on industry and trade cooperation at a meeting in Hanoi on Sept 22, the Vietnam News Agency reported Tuesday.
The two ministers agreed to boost cooperation in the fields of energy, mining, wood processing, agriculture, garments and agricultural machinery.
During the meeting, they also pledged to negotiate a bilateral trade agreement soon.
Vietnam will send a trade mission to Timor-Leste in the fourth quarter this year to seek industry, trade and investment cooperation opportunities, said Minister Hoang.
Trade between Vietnam and Timor-Leste stood at $56 million last year and $71 million in the first seven months of this year. (Vietnam Economic Times, Vietnamplus)
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