Dien Bien Province Collaborates With Dominican Republic
	Minister of Dominica Admires Vietnam's Achievements

Vietnam and the Dominican Republic have enjoyed a fruitful partnership since establishing diplomatic relations nearly two decades ago. The strong momentum in economic and trade cooperation between the two countries is a testament to the vast potential for future collaboration. Prime Minister Pham Minh Chinh's visit reaffirms Vietnam's dedication to deepening bilateral ties and working towards a successful 20th anniversary of diplomatic relations.

Workers processing rubber latex for export. Photo: VNA

Vietnamese Ambassador to Cuba (concurrently accredited to the Dominican Republic) Le Quang Long assessed that while economic and trade relations still account for a small proportion of each country's total trade, they have recorded rapid growth.

In 2013, bilateral trade between Vietnam and the Dominican Republic reached US$36.5 million. After 10 years, the two countries have increased this figure to nearly US$100 million.

According to trade experts, the Dominican Republic appreciates Vietnam's achievements and position in bridging the gap with Southeast Asia and Asia and wishes to further promote bilateral relations, especially cooperation in oil and gas, energy, telecommunications, construction of cement plants, solar panels, steel, sports products and equipment, sanitary ware, detergents, textiles, bus and motorcycle assembly.

Citing data from Vietnam's General Department of Customs, a representative of the European-American Market Department (Ministry of Industry and Trade) said that Vietnam's main exports to the Dominican Republic include machinery and electronic equipment, agricultural products, seafood, rubber and rubber products, footwear, wooden furniture, plastics and plastic products, and textile products. Meanwhile, Vietnam's main imports from the Dominican Republic are iron and steel, optical equipment for medical use, and man-made fibers.

With a population exceeding 10 million, the Dominican Republic offers a substantial market for Vietnamese businesses, especially when compared to its regional peers. The country's stable business environment and abundant opportunities make it an attractive destination for investment.

Both Vietnam and the Dominican Republic have been actively working to enhance economic ties, with the signing of a memorandum of understanding on trade and industry cooperation being a significant milestone. The establishment of a joint committee is expected to further strengthen bilateral relations and unlock new avenues for cooperation.

Recently, while receiving and working with Miguel Mejia, Secretary-General of the Unified Left Movement Party and Minister of Regional Integration Policy of the Dominican Republic, Minister Nguyen Hong Dien appreciated the good friendship and cooperation between the Parties, States, and peoples of the two countries, and the efforts of the agencies of the two sides in promoting and expanding economic and trade cooperation between Vietnam and the Dominican Republic.

Minister Nguyen Hong Dien emphasized that the Dominican Republic has been one of the fastest-growing economies in Latin America over the past two decades. In this context, the economic cooperation between the two sides has achieved positive results with bilateral trade reaching US$120 million per year. However, this is still a modest figure compared to the potential and strengths of both sides, accounting for only a small proportion of the total foreign trade of Vietnam and the Dominican Republic. The main reasons can be attributed to the lack of information about each other's markets among businesses of the two countries, limited high-level delegation exchanges, and other objective factors such as language differences and geographical distance.

Besides, Minister Nguyen Hong Dien also appreciated the good friendship and cooperation between the Party, State, and people of Vietnam and the Dominican Republic. Therefore, he suggested that the two sides coordinate to find new directions and measures to promote bilateral trade cooperation based on potential and needs and continue to support each other in multilateral and regional forums.

Textile production for export. Photo: VNA

General Secretary Miguel Mejia emphasized Vietnam's importance as a key partner in the region and commended the Ministry of Industry and Trade for its pivotal role in advancing economic and trade cooperation between the two countries. The Dominican Republic's decision to establish an embassy in Vietnam reflects its desire to foster more comprehensive and effective collaboration. Both sides expressed a commitment to strengthening coordination and implementing measures across various sectors, particularly in economic and trade cooperation, to further deepen the traditional solidarity, friendship, and multifaceted partnership between the two nations.

Both sides agreed on the need to enhance bilateral trade exchange by actively sharing market information with the business communities of both countries and increasing enterprise participation in each other's international trade fairs and exhibitions. These efforts are expected to significantly boost economic ties and contribute to the overall development of bilateral relations.

Ambassador Le Quang Long emphasized that in the coming period, the two countries should actively promote trade and investment through fairs, exhibitions, and investment forums to connect businesses and localities from both sides and exchange information on cooperation opportunities. Additionally, Vietnamese enterprises already investing in the Latin America and Caribbean region should seize the opportunity to access the Dominican Republic market and use it as a gateway to expand into other markets in the region.

Vietnam Works to Foster Ties with Dominican Republic Vietnam values all-around ties with the Dominican Republic, said General Secretary of the Communist Party of Vietnam Central Committee Nguyen Phu Trong.

Vietnam, Dominican Republic's Parties Beef up Cooperation Bringing the relationship between Vietnam and the Dominican Republic more widely, deeply and effectively