The talks took place immediately following the official welcoming ceremony at the Presidential Palace.
Vietnam supports Venezuela’s constitutional government led by President Nicolas Maduro Moros, said the host, adding that he believes Venezuelans will overcome challenges and reap new successes moving forward.
The guest expressed his desire to learn of Vietnam’s development experiences and stated that Venezuela constantly considers Vietnam a significant partner and is eager to further bilateral ties.
Both leaders agreed to maintain and improve the efficiency of bilateral cooperation mechanisms, including the Inter-Governmental Committee for Economic-Trade and Scientific-Technological Cooperation and political consultations between the two foreign ministries.
They will direct ministries and agencies to gradually fine-tune legal frameworks through negotiating and signing deals in specific areas while facilitating business operations across the fields of energy, oil and gas, agriculture and fisheries.
Both the host and guest welcomed the signing of an agreement on agricultural projects for the 2015-2018 period during the visit, laying a legal framework to launch three projects on food production, aquaculture and animal breeding in Venezuela.
They also confirmed their support for joint work across the manufacturing and processing industry, infrastructure and social housing, construction materials and electrical appliances.
The Venezuelan side pledged its continued assistance for an oil-and-gas venture between the two national oil and gas groups in the country.
As trade remains below US$100 million per year, they agreed on the necessity to direct ministries and agencies to lift the figure to US$1-2 billion or upwards over the next three years.
Venezuela is prepared to link Vietnam with 19 Caribbean countries, which are home to a population of 80-million as well as members of the PetroCaribe – an oil alliance of Caribbean states with Venezuela, the guest said.
Both host and guest promised to foster national defence-security collaboration by facilitating experience sharing and training, as well as agreed to enhance relationship between the two Parties, legislatures and socio-political organisations.
They expressed their satisfaction with current mutual support at international organisations and multilateral forums, especially the United Nations, the Non-Aligned Movement (NAM) and South-South co-operation mechanism.
On the occasion, President Nicolas Maduro Moros informed his host that Venezuela supports Vietnam’s bid for a seat at the UN Economic and Social Council for the 2016-2018 tenure.
The Vietnamese leader, in return, vowed for a close partnership with Venezuela and other member states to successfully host the NAM Summit scheduled for the first half of 2016 in Venezuela.
On regional and global issues of shared concern, the two sides shared the view that sovereignty and territorial disputes should be settled by peaceful means in accordance with international law, particularly the UN Charter and the 1982 UN Convention on the Law of the Sea.