Leaders of the Center for Trade Policy Development Joint-Stock Company and the Vietnam Trade Promotion Agency signed a Memorandum of Understanding. Photo: Hoang Yen

The signing ceremony of commercial documents between Vietnam and Kazakhstan took place on August 21, in Hanoi. The event was held within the framework of the official visit to Vietnam by the President of the Republic of Kazakhstan Kassym-Jomart Tokayev.

Vietnam's Deputy Minister of Industry and Trade Do Thang Hai and Kazakhstan's Deputy Prime Minister and Minister of Trade and Integration Serik Zhumangarin witnessed the signing ceremony of eight documents including:

Memorandum of Understanding between the Ministry of Industry and Infrastructure Development of the Republic of Kazakhstan and Vietjet Aviation Joint Stock Company.

Memorandum of Understanding between national corporation "KazMunayGaz" and Sovico Group.

Memorandum of Understanding on cooperation between the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan and the Foreign Investment Agency of the Socialist Republic of Vietnam.

Memorandum of Understanding on cooperation between the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan and Crystal Bay Tourism Group Joint Stock Company.

Memorandum of Understanding in developing e-commerce and other postal fields between Kazpost Joint Stock Company and Vietnam Post Corporation (Vietnam Post).

Memorandum of Understanding on cooperation in transport infrastructure and freight between Kazakhstan Temir Zholy Joint Stock Company and Sovico Group.

Memorandum of Understanding between the Center for Trade Policy Development Joint-Stock Company (KazTrade) and the Vietnam Trade Promotion Agency (VietTrade).

Cooperation agreement between Microtech DFS Vietnam Company Limited and Vela Corporation.

Leaders of Kazpost and Vietnam Post signed a Memorandum of Understanding. Photo: Hoang Yen

Speaking at the ceremony, Deputy Minister Do Thang Hai affirmed that the signing ceremony of the MoU is an opportunity for state management agencies and the Vietnam-Kazakhstan business community to establish more cooperation frameworks in many fields.

That will contribute to promoting economic, trade, and investment relations between the two sides in the coming time.

According to the Deputy Minister, the signing ceremony of cooperation documents is also the first practical step to implement the joint action plan to promote economic and trade cooperation between the governments of Vietnam and Kazakhstan in 2023-2025.

Deputy Minister Do Thang Hai believed that the cooperation documents in this signing ceremony would help the two sides implement many new activities, especially in potential fields such as investment, transportation, travel, and e-commerce.

Since the free trade agreement between Vietnam and the Eurasian Economic Union officially took effect in October 2016, bilateral trade turnover between Vietnam and Kazakhstan grew positively, averaging about 28% per year in the period 2017-2021.

In 2022, despite facing difficulties and challenges of the world economy, trade exchange between Vietnam and Kazakhstan still reach US$583.7 million. Kazakhstan continues to be the country with the second largest import-export turnover with Vietnam among the member countries of the Eurasian Economic Union.

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