Vietnam-Kazakhstan Friendship Elevated

9:50:04 AM | 7/11/2023

Vietnam and Kazakhstan have enjoyed a strong relationship in various aspects for over 30 years. Strengthening business cooperation will help deepen the traditional friendship between the two countries.

VCCI President Pham Tan Cong (R) receives Kazakhstan’s Ambassador Yerlan Baizhanov

Speaking at a recent working meeting with Kazakhstan’s Ambassador to Vietnam Yerlan Baizhanov, VCCI President Pham Tan Cong said that the Vietnam-Kazakhstan relationship has been constantly cultivated and grown in the spirit of mutual trust and understanding. Vietnam always attaches great importance to the good traditional friendship with Kazakhstan. With their mutual complementarity, their economic cooperation still has a lot of room for development. Emphasizing that economy is an important pillar in the Vietnam-Kazakhstan relationship, Ambassador Yerlan Baizhanov said that Kazakhstan always considers Vietnam an important partner. The Vietnam-EAEU Free Trade Agreement, of which Kazakhstan is a member, has created a driving force to boost the bilateral trade exchange between Vietnam and Kazakhstan. Their two-way trade value increased by three times as compared to the pre-agreement signing. More and more Kazakh businesses see Vietnam as an attractive destination to seek new business and investment cooperation opportunities.

In 2022, the bilateral trade value between Vietnam and Kazakhstan reached nearly US$600 million. Vietnam’s exports to Kazakhstan accounted for US$525 million while its imports from Kazakhstan were valued at US$60 million. Kazakhstan is expected to boost cooperation with Vietnam in economy, trade, investment, finance, education-training, culture, tourism, transport, clean energy and high technology. According to Ambassador Yerlan Baizhanov, the official visit to Vietnam scheduled for August 2023 by Kazakh President Kassym-Jomart Tokayev is an opportunity for the two countries to open new chapters in bilateral relations. On this occasion, the Trade and Investment Agency under the Ministry of Foreign Affairs of Kazakhstan, the Ministry of Trade and Integration of Kazakhstan and the Kazakhstan Chamber of Commerce and Industry hope to coordinate with the Vietnam Chamber of Commerce and Industry (VCCI) to open the Vietnam-Kazakhstan Business Forum. The forum is expected to take place on August 20-21, 2023.

“The important purpose of the President of Kazakhstan’s visit to Vietnam is to explore the potential of this huge cooperation. In addition, the two sides also plan to establish the Vietnam-Kazakhstan Business Council. This will be an important trade and investment promotion agency for Vietnamese and Kazakh business communities," he added.

VCCI President Pham Tan Cong affirmed that Vietnam encourages international businesses, including Kazakh businesses, to invest in areas of mutual interest. In the coming time, Vietnam and Kazakhstan should continue to strengthen delegation exchanges and foster trade and investment promotion through exhibitions, trade fairs and business exchanges to catch the attention of Vietnamese and Kazakh companies. He also hoped that Kazakhstan will continue to provide and exchange information about the market and potential investment cooperation projects for Vietnamese companies.

“With more than 200,000 member companies of different industries across the country, VCCI will be a solid bridge and backer for Kazakh businesses to seek for investment opportunities in the coming time,” he emphasized.

Regarding the organization of the upcoming Vietnam-Kazakhstan Business Forum on the occasion of the Vietnam visit by the President of Kazakhstan and the establishment of the Vietnam-Kazakhstan Business Council, VCCI fully agreed and hoped to coordinate closely with the Embassy as well as related agencies to carry out necessary preparations. VCCI President Cong also suggested that Kazakhstan soon provide a list of businesses attending the forum so that VCCI can promptly provide good information for Vietnamese businesses.

By Thu Ha, Vietnam Business Forum