"All the additional elements between the two countries’ economies and markets are able to expand bilateral trade relations in a healthy and sustainable way. The vitality and dynamism of the economy in each country is a strong common denominator which will create favourable conditions for the expansion of bilateral economic partnership", affirmed Mr Ahmet Akif Oktay, Turkish Ambassador to Vietnam at the Vietnam – Turkey business forum held by the Vietnam Chamber of Commerce and Industry (VCCI) in coordination with the Turkish Embassy in Vietnam, the Foreign Economic Relations Board of Turkey (DEIK) and the Council of the two countries’ businesses, recently in Hanoi.
Push to sign the free trade agreement between the two countries
Turkish trade delegation was led by Mr Necati Abacioglu, President of the Vietnam – Turkey Business Council. The Turkish businesses coming to Vietnam this time are mainly engaged in the fields of agriculture, food processing (fruit, etc.), animal feed, plastic, oil, chemicals, cosmetics, paper , assorted paints, varnishes, wire and industrial electrical equipment (transformers, high-voltage adapter), appliances, furniture, interior - exterior, automotive spare parts and accessories - motorcycles, and packaging.
According to Pham Thi Thu Hang, General Secretary of VCCI, the event aims to provide information, to expand trade and investment cooperation for enterprises, and to introduce Vietnam’s economic rules and regulations. Foreign investors can enter Vietnam to expand economic ties with other countries in the ASEAN region.
According to Ahmet Akif Oktay, in spite of geographic distance, trade volume between Turkey and Vietnam has now exceeded US$1 billion. Turkey has become one of Vietnam's top markets in Asia and Europe.
"We believe that this number can be doubled in the not too distant future, and even increase beyond that. But this is a very difficult task, which requires us to work together and strengthen our efforts in direct meetings, such as this event,” said Ahmet Akif Oktay.
Mr Ahmet Akif Oktay said that Vietnam and Turkey also need to accelerate work toward the signing of the agreements on the promotion of investment and avoidance of double taxation. These two agreements are almost ready to be signed in high-level visits. Similarly, Mr Ahmet Akif Oktay hopes that the negotiations related to the Free Trade Agreement will bring swift results towards this goal.
Turkey's economy grew 9.2 percent in 2010 and 8.5 percent in 2011. Currently, the Turkish economy ranks 16th in the world and 6th in Europe, with an annual trade volume of over US$ 300 billion. Turkey's GDP has reached US$ 1 trillion and per capita income is US$ 10,400.
In 2011, Turkey ranked 12th among countries in attracting foreign direct investment, with investment value of nearly US$16 billion. In the same year, 36 million foreign tourists visited Turkey, adding US$23 billion to national income.
Mr Ahmet Akif Oktay assessed that Vietnam is on the rise towards industrialization and modernization. To achieve its national goals, Vietnam endeavours to improve the quality of education, infrastructure, energy, health, tourism and other fields; this is the key to achieving sustainable economic growth.
"In these areas, Turkey is a country with a lot of experience, know-how and expertise. The two countries can cooperate to explore and promote the best practices of each country in the areas mentioned above. Currently, Turkey's thriving construction sector can play an important role in the development of infrastructure projects in Vietnam," said Ahmet Akif Oktay.
Mr Ahmet Akif Oktay shared that even before he came to Hanoi, he encouraged Turkish businessmen to pay more interest to the abundant investment opportunities in Vietnam. However, if Vietnam wants to attract more foreign direct investment from Turkey, Vietnam also needs to renew efforts to promote its potential in Turkey.
Promote meetings and information exchange
To promote trade and increase investment between the two countries, according to Mr Ahmet Akif Oktay, the two sides should promote visits and bilateral trade talks.
Possibly, the most important part of this step is the need to streamline and create favourable conditions and promote visa procedures in each country. Second, transportation and information links between the two countries should be strong, regular and efficient. Since last year, Turkish Airlines has daily flights between Ho Chi Minh and İstanbul. The airline also recently started freighter services to Hanoi.
"I believe that in the not too distant future, there will be passenger flights to Hanoi. At the same time, we also began to exploit the ability to be able to sign an agreement on maritime cooperation with Vietnam," said Ahmet Akif Oktay.
In addition, according to Mr Ahmet Akif Oktay, businessmen of the two countries are also required to participate in trade fairs organized in each country. Next May, for the first time, the Istanbul Chamber of Commerce will host a Turkish Products Exhibition in Ho Chi Minh City.
Particularly, according to Mr Ahmet Akif Oktay, the two sides need to be able to provide reliable, adequate and timely information about the conditions, regulations and needs of the markets and companies of the two countries.
Official trade representative bodies of the two countries endeavour to serve the companies which want to find out more information. However, two-way information will become more efficient and lead to more tangible results if permanent, direct channels of communication are opened, supporting new ways to exchange data between the private enterprises of each country.
In this regard, Mr Ahmet Akif Oktay proposed that the two sides should consider measures such as the establishment of a common database via the Internet or register a site and consider opening representative offices or research centres in each country by the two Chambers of Commerce and Industry.
Quynh Anh
Vietnamese
