Recently in Hanoi, Dr Doan Duy Khuong, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI), met and discussed with Mr Diego Aulestia, Minister of Foreign Trade of Ecuador. The meeting aimed to increase cooperation opportunities between enterprises of the two countries, while preparing for the state visit to Vietnam by Ecuador President expected in late October 2015.
At the meeting the two sides discussed measures to boost economic and trade cooperation between the two countries, in which the two countries should further promote the legal framework facilitating cooperation between enterprises of the two sides.
Speaking at the meeting, Dr Doan Duy Khuong said Vietnam always attaches importance to developing relations with Ecuador. However, Vietnam-Ecuador trade is still modest compared to the potential and strengths of the two countries, especially in the field of investment.
According to statistics from the Central Bank of Ecuador, trade between Vietnam and Ecuador increased in recent years, from US$16.5 million in 2010 to US$71.2 million in 2011; US$172.4 million in 2012 and US$360.7 million in 2013. In 2014, the country’s volume exported to Vietnam was worth US$625.1, up 93 percent, and imports US$33.9 million, down 9 percent compared with the previous year. Vietnam's exports include coffee, shoes, all kinds of textiles, clothing, computers, electronic products and parts, rubber products, plastic materials, bags, suitcases, umbrellas and some other goods. Goods imported are mainly animal feed, animal grease, some machinery, equipment and tools.
Mr Diego Aulestia, Minister of Foreign Trade of Ecuador affirmed that Ecuador saw Vietnam as a strategic partner in Asia, while emphasising the areas of potential cooperation such as agriculture and food security and joint venture investment in the oil and gas and telecommunications, and cooperation in science – technology.
Regarding the business opportunity for Vietnam, Mr Diego Aulestia said in Ecuadorian exports, crude oil accounted for 50 percent, the remaining 50 percent were products such as bananas, shrimp, tuna, the main flower roses, wood products, all kinds of metals, cocoa, coffee, fresh and processed vegetables. Ecuador exports its products to over 150 countries worldwide, of which the main export markets are the US, Peru, Colombia, Chile, Venezuela, Panama, Italy and Russia. Ecuador imports mainly petrochemical products, and raw materials to produce, machinery & equipment, consumer goods and other commodities. Ecuador welcomes Vietnam enterprises to access market and establish partnerships in Ecuador; wishes to cooperate in order to create mechanisms and legal framework for cooperation. The Minister was also committed to facilitating Vietnam enterprises market access and establishing partnerships, investing in Ecuador, especially in the fields of oil and gas and telecommunications.
To increase cooperation export opportunities for business cooperation of the two countries in general, and exports of Vietnam to the market in particular Ecuador, Mr Diego Aulestia stressed Vietnam enterprises should actively research markets, organise direct surveys in Ecuador, determine the advantages Vietnam products to penetrate the market, and gradually gain market share in Ecuador.
VCCI Vice President Doan Duy Khuong stressed that VCCI was committed to always facilitating businesses and foreign investors to invest and cooperate in Vietnam including Ecuador enterprises. Regarding Ecuador Mining Industry Forum expected to be held on October 26, 2015, Dr Khuong said that this is a good opportunity for businesses of both sides to explore opportunities and exchange experience in this area. Dr Khuong also hoped that in the future the two countries will increase cooperation in the field of oil and gas.
Thu Ha
Vietnamese
