New milestone in Vietnam-Armenia traditional friendship

Friday, 2019-07-05 11:46:03
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Armenian Prime Minister Nikol Pashinyan.
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NDO - Armenian Prime Minister Nikol Pashinyan’s official visit to Vietnam, at the invitation of Prime Minister Nguyen Xuan Phuc, marks a new milestone in the bilateral relationship, helping to further deepen the traditional friendship and fine cooperation between Vietnam and Armenia.

The Vietnamese people are pleased to share the achievements in all aspects that Armenia has recorded recently. In the mid-1990s, Armenia began an economic reform, switched to a market economy, carried out privatisation, and reformed the banking-financial and legal systems with the aim of attracting foreign investment and motivating domestic production.

In recent years, Armenia has enjoyed steady economic growth and low inflation. Armenia has potential in manufacturing and exporting high-end electronics, copper, cables, and jewellery, while having demand for grains, sugar, high-tech products and fuels.

The country has a sound policy to attract Armenian expats. In 2017, remittances to Armenia reached US$1.76 billion, a major contribution to its government revenues. Armenia is a member of more than 40 international and regional organisations, and actively participates in cooperation mechanisms such as the Non-Aligned Movement.

We are pleased to witness the positive development of the traditional friendship and multi-faceted cooperation between the two countries. Since establishing diplomatic ties on July 14, 1992, Vietnam and Armenia have maintained and solidified a fine political relationship.

The Vietnamese people will never forget the strong support and valuable assistance of the people of the former Soviet Union, including the Armenian people, in Vietnam’s revolutionary and national construction cause, including the provision of support to train Vietnamese officials and students.

Currently, the two sides frequently work together and support each other at international forums, hold meetings and exchange delegations at various levels, and promote cooperation between the two countries’ ministries and localities, thereby enhancing political trust and mutual understanding to create a firm foundation for expanding and developing economic, trade and investment cooperation, as well as cooperation in other areas.

The fine political relationship has been marked by high-level visits, notably Armenian President Serzh Sargsyan’s visit to Vietnam in June 2012 and Vietnamese Minister of Justice Ha Hung Cuong’s visit to Armenia in October 2015.

Economic and trade cooperation between Vietnam and Armenia has seen certain development in recent years but it is not yet proportional to the fine political relationship between the two countries. Two-way trade in 2018 reached US$3.6 million. Vietnam and the Eurasian Economic Union, including Armenia, officially signed a free trade agreement in 2015, helping to remove non-tariff obstacles.

The two sides have established an inter-governmental committee on economic, trade, scientific and technological cooperation, which convened for its first meeting in Hanoi in March 2017. The two sides agree to promote bilateral cooperation in a more extensive, substantive and effective manner. Since 1992, the two countries have signed seven agreements on economic, trade, cultural, scientific and technological cooperation, investment encouragement and protection, creating a legal framework to promote cooperation between the two countries in a wide range of fields.

Prime Minister Nikol Pashinyan’s official visit aims to affirm the determination of the two countries’ leaders and people to strengthen the Vietnam-Armenia traditional friendship and fine cooperation; bolster cooperation in all fields, especially economic, trade and investment cooperation.

May Prime Minister Nikol Pashinyan’s visit to Vietnam be a success, taking the traditional friendship and fine cooperation between the two countries to a new height.