Strengthening Cooperation between Businesses of Vietnam and Azerbaijan

Accompanying Azerbaijani President Ilham Aliyev were the representatives of 50 leading economic groups of Azerbaijan in the fields of agricultural exports and imports, food processing, cement, chemicals, infrastructure construction, iron and steel, construction materials, information technology, furniture, clothing, glassware, general commerce and investment.

 

Speaking at the Forum, Vietnam’s Deputy Minister of Industry and Trade Nguyen Cam Tu said that the presence of the Minister of Economy and a large number of representatives from businesses of Azerbaijan and Vietnam, the Forum is a good opportunity for businesses to meet, exchange and seek opportunities for cooperation, partnership establishment. The forum is also a place for businesses of the two countries to propose that their governments have measures to improve the bilateral legal framework, creating favourable conditions for business cooperation and investment for businesses of Vietnam and Azerbaijan.

 

Along with the good traditional relations which are gradually strengthened and expanded, economic and trade cooperation between Vietnam and Azerbaijan is gradually developing. Exports and imports turnover in 2013 reached US$381.3 million, an increase of 13 times compared with 2012. Specifically, Vietnam's exports reached US$56.9 million, an increase of 2.3 times, while exports of Azerbaijan gained US$324.5 million, a sharp increase compared to US$5.01 million in 2012.

 

Mr Tu said that despite high growth rates in recent years, economic and trade cooperation between the two countries is still modest and not commensurate with their potential. Vietnam and Azerbaijan have potentials to promote cooperation in various fields. Vietnam can provide Azerbaijan with agricultural products, aquatic products, handicrafts and computers. Meanwhile, Azerbaijan can cooperate with Vietnam in the fields including oil and gas, education and training, and leather industry. Besides, Vietnam could serve as a bridge for the two countries to boost cooperation with ASEAN nations, while Azerbaijan supports Vietnam to strengthen cooperation with neighbouring countries.

 

Mr Tu believes that the dynamism of the two sides’ businesses and the signing of the agreement on economic and trade, scientific and technical cooperation will help bring bilateral relations to a new height commensurate with the good relations and potential of the two countries.

 

Mr Hoang Van Dung affirmed that "the State and the Government of Vietnam attach great importance to promoting comprehensive and effective cooperation across all sectors, levels and businesses of the two countries, encourage and create favourable conditions for investors and entrepreneurs from Azerbaijan in particular all nations in the world in general to cooperate with Vietnam in all fields of economy, trade and investment. Vietnam encourages and creates the most favourable conditions for corporations and companies of Azerbaijan so that they consider Vietnam a strategic place in the expansion of operation and economic cooperation of Azerbaijan with ASEAN and East Asia."

 

Mr Dung added that as the representing body of Vietnamese business community, the VCCI along with Azerbaijan partners will organize more promotion activities of trade and investment as meaningful as this forum. Through activities supporting and promoting trade, relations between the two countries’ business community will continue to be driven with many new developments; more projects and programs will be extended among partners of two sides.