Vietnam and Egypt promote economic and trade cooperation

Friday, 2022-06-17 09:17:24
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Many participating Egyptian companies show interest in various Vietnamese products, mostly those of the agriculture, fishery and cosmeceutical industries.
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NDO – The Embassy of Vietnam in Egypt in collaboration with the Vietnamese Ministry of Industry and Trade and the Alexandria Chamber of Commerce held a forum on June 16 to discuss the potential for economic and trade cooperation between Vietnam and Egypt.

Speaking at the forum, Vietnamese Ambassador Nguyen Huy Dung spoke highly of the multifaceted relations between the two countries which saw great progress over the last several years.

Vietnam and Egypt have huge potential for stronger cooperation in various areas, such as electrical industry, textile-garment, logistics, agriculture, fishery, tourism, seaport management, marine economy, wooden furniture and gas production. But the two-way trade has failed to match such potential, he said.

The diplomat noted that the two countries are coordinating to effectively implement agreements to accelerate bilateral trade and the two nations are also working together to boost that trade in the hope of soon increasing the turnover to 1 billion USD.

For his part, President of the Alexandria Chamber of Commerce Ahmed El Wakil, highlighted the close friendship between Vietnam and Egypt, saying that the two sides must strengthen their partnership in addressing regional and global issues, particularly in the fields of trade and economy.

Given global uncertainties caused by the impacts of the COVID-19 pandemic and the Russia-Ukraine crisis, the two nations should make joint efforts in removing barriers to trade and enhancing the bilateral economic cooperation more effectively and practically, he stated.

Both officials agreed that the two countries need to increase information exchange between their enterprises through business forums, trade-investment promotion workshops and trade expos, adding that regular contacts should also be maintained between the Embassy of Vietnam in Egypt and the Alexandria Chamber of Commerce.