Cuba, Vietnam Working to Advance Economic, Trade Ties

Vietnam, Cuba aim to advance their economic-trade-investment ties on a par with the traditional friendship between the two countries.

Rosy Huong

huongthhd@gmail.com March 27, 2022 | 08:41

Cuba, Vietnam Working to Advance Economic, Trade Ties

Chairman of the Vietnamese National Assembly Vuong Dinh Hue (left) held online talks with President the National Assembly of People's Power of Cuba Esteban Lazo Hernández on March 25 night. Photo: quochoi.vn

Chairman of the Vietnamese National Assembly Vuong Dinh Hue and President of the National Assembly of People's Power of Cuba Esteban Lazo Hernández held online talks on March 25.

They informed each other about their respective country’s recent situation, and discussed a host of measures to further reinforce the fraternal friendship and comprehensive cooperation between the Parties, National Assemblies and people of Vietnam and Cuba, VOV reported.

Hue emphasised that Cuba always holds a very important position in the heart of each Vietnamese person and that Vietnam supports the request for ending embargo policies against the Caribbean nation.

Hernandez affirmed that Cuba gives the top priority to cooperative relations with Vietnam and desires to strengthen economic, trade and investment ties as well as exchanging experience in parliamentary activities with the Southeast Asian country.

Cuba is appreciative of Vietnam’s efforts in carrying out the dual goal of combating Covid-19 and boosting economic development, Hernandez said, adding that Cuba aspires to cooperate with Vietnam in the fight against the pandemic based on its current capacity.

Chairman of the Vietnamese National Assembly Vuong Dinh Hue. Photo: VNA

The two leaders held that despite their geographical distance, Vietnam and Cuba have been and will be backing each other in the process of national construction and defence. The Vietnam-Cuba special fraternal friendship and solidarity are a valuable asset that the two Parties, States and people need to preserve, nurture, develop and pass to future generations, they stressed.

They went on to state that the bilateral relationship has continued to witness positive development steps in the recent past despite adverse impacts from the Covid-19 pandemic. The two countries have maintained high-level phone talks and meetings and cooperation mechanisms in the online form, and built mechanisms to remove difficulties in economic-trade-investment ties. Vietnam and Cuba have assisted each other in coping with the pandemic, showing their special sentiments.

Hue affirmed Vietnam’s recognition of great importance to and will continue working hand in hand with Cuba to implement high-level commitments and contents of bilateral cooperation, including cooperation in health care, pharmaceuticals and Covid-19 prevention and control, reached by the inter-government committees.

The pair consented to continue intensifying the exchange of delegations at all levels in suitable forms; and organising seminars, talks and exchange of experts to share experience in renewal, especially in law-making, supervision, building and perfecting the rule-governed socialist State and deciding important issues of each country.

Illustrative image (Photo: Alianza News)

Vietnam and Cuba will continue with partnerships in a range of fields. Photo: Alianza News

The two sides pledged to create more optimal conditions in terms of mechanism and policy for Vietnamese businesses investing in Cuba, and continue pushing up economic and trade relations as well as cooperation in the fields where both nations have advantages and potential such as agriculture, fishery, biotechnology and tourism.

On this occasion, Hue informed that the Vietnamese NA will soon offer office equipment to help its Cuban counterpart improve the operational efficiency.

Hue invited Hernandez to pay an official visit to Vietnam, and the Cuban leader also extended his invitation to the Vietnamese NA Chairman to visit Cuba at an appropriate time in the near future./.

Trade between Vietnam and Cuba in the January-November period reached US$105 million, up 2% year-on-year.

Vietnam has strived to maintain its rice exports to Cuba, helping the Caribbean nation ensure food security and social stability, according to VietnamPlus.

During the 39th meeting of their Inter-Governmental Committee in Hanoi last December, the two sides consented to step up collaboration in priority fields as well as the spheres in which both are interested.

They will work to effectively implement reached agreements and create conditions for businesses to utilise tax incentives of the Vietnam-Cuba trade agreement to raise the bilateral trade.

More efforts will be made to roll out the cooperation project on rice production in Cuba, and sketch out the corn and aquaculture projects that are expected to be submitted to competent agencies for approval, heard the meeting.

The two health ministries will enhance cooperation in the supply and transfer of Covid-19 vaccine production technology in Vietnam.

Vietnam and Cuba will also continue with partnerships in other fields like construction, information-communications, finance, customs, banking, education-training, culture-sports-tourism, labour-invalids-social affairs, radio, television, science-technology and justice, among others.

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Rosy Huong