Turkmen Deputy Foreign Minister Attends Business Forum in Vietnan

A business mission accompanyed the Turkmen Deputy Minister of Foreign Affairs to attend the Vietnam – Turkmenistan business forum on June 29.
June 30, 2022 | 08:21

The Vietnam-Turkmenistan Business Forum has provided an ideal venue for enterprises from both sides to seek co-operation opportunities in the near future, according to insiders, said Deputy Minister of Foreign Affairs of Turkmenistan Vepa Hajiyev at the ongoing forum in Hanoi on June 29.

Turkmen Deputy Foreign Minister Attends Business Forum in Vietnan
Overview of the forum. Photo: congthuong.vn

Hajiyev has been visiting Vietnam as the two countries will be celebrating the 30th founding anniversary of diplomatic relations next month (July 29, 1992 – 2022).

The event is part of a range of activities taking place to mark the visit by a delegation of more than 40 Turkmenistan enterprises led by Deputy Minister Hajiyev from June 29 to July 1.

Upon addressing the event, Deputy Minister Hajiyev highlighted the country's great efforts made to promote diplomatic ties and economic co-operation between the two countries over the past 30 years.

He emphasized the need to boost trade exchanges and investment attraction between both sides, especially in advantageous areas.

At present, Turkmenistan possesses many strengths in fields such as natural gas, cotton, fabrics, and carpets of all kinds, while the country is capable of producing industrial products, as well as consumer items such as tea, coffee, and seafood which can meet Turkmenistan’s import demand.

Bui Trung Nghia, vice president of the Vietnam Chamber of Commerce and Industry (VCCI), outlined that the country recorded the highest average annual GDP growth rate in the world at approximately 7% in the 1991 to 2021 period.

Despite the negative impacts of the Covid-19 pandemic, the country ranked among the few nations with a GDP growth rate exceeding 2.58% in 2020 and 2021, with this rising to 5.03% in the first quarter and 6% in the second quarter of the year.

Along with advantages gained through political stability, an abundant and qualified workforce, transport infrastructure, and rapid digital transformation, the nation has also emerged as a leading attractive destination for FDI attraction.

So far, investors from 139 countries and territories globally have so far invested over US$420 billion in the Vietnamese market. Last year witnessed some the world's leading corporations, such as LG, Samsung, Intel, and LEGO invest heavily in the nation, despite challenges relating to Covid-19.

Turkmen Deputy Foreign Minister Attends Business Forum in Vietnan
Deputy Minister of Foreign Affairs of Turkmenistan Vepa Hajiyev. Source: TCCT

Earlier, Permanent Deputy Minister of Foreign Affairs Nguyen Minh Vu on June 27 hosted a reception for visiting Hajiyev.

Vietnam treasures the long-standing friendship and partnership with Turkmenistan and wants to further strengthen the bilateral ties, Vu told Hajiyev, adding that the visit will create new opportunities for cooperation between the two nations.

The Vietnamese official welcomed the business mission accompanying Hajiyev. The business delegation is also planning to meet with representatives of Vietnamese ministries.

Hajiyev spoke highly of close coordination between the two foreign ministries over the past several years, particularly at multilateral forums. He affirmed that Turkmenistan wishes to boost cooperation with Vietnam for the benefit and development of both countries.

The two sides agreed to increase delegation exchanges in the coming time. They will continue implementing the consultation mechanism between the two ministries and sign agreements to provide legal framework for the bilateral partnership.

They also pledged to actively enhance connectivity between the two countries’ business communities and facilitate management experience sharing in the fields of education training and science-technology, and expand collaboration in agriculture, energy, production of construction materials and finance.

On the morning of June 28, Deputy Minister of Industry and Trade Do Thang Hai had a meeting with Deputy Minister of Foreign Affairs Hajiev.

At this meeting, Deputy Minister Vepa Hajiev showed interest in Vietnam's marble, adding that Turkmenistan needs about 1.5 million tons of high-quality goods.

Deputy Minister Hai said that there is still a lot of room for economic development between the two sides, yet due to objective conditions in terms of geography, geopolitics and culture have affected the bilateral cooperation.

Hai said that efforts should be made to create appropriate mechanisms, towards the establishment of a joint committee to exchange information regularly.

Hajiev, for his part, agreed on having a mechanism to promote cooperation in building the mechanism of the joint committee and will soon process to promote this.

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