Vietnam, Egypt Aim to Raise Bilateral Trade Turnover to 1 Billion USD

Delivering a speech at the ceremony, Ambassador Nguyen Huy Dung approved that Vietnam and Egypt are two countries having many similarities in history, sharing a common desire for freedom and independence, and becoming symbols of resilience for national liberation.

There are why Egypt was the first country in Africa and the Middle East to establish diplomatic relations with Vietnam in 1963. After 60 years of relationship establishment, the bilateral relations between Vietnam and Egypt have been reinforced reasons and developed. Up to now, Egypt has been still one of the most important trade partners and potential markets of Vietnam in this region.

Vietnamese Ambassador to Egypt Nguyen Huy Dung. Photo: vov.vn

According to Ambassador Nguyen Huy Dung, the two countries have great potential to strengthen cooperation in all fields, especially in economics, trade, logistics, culture, education, tourism, people-to-people diplomacy, etc. With nearly 20 bilateral cooperation agreements being actively and proactively implemented, the trade turnover between Vietnam and Egypt reached 600 million USD in 2022.

Ambassador Nguyen Huy Dung said that the two countries have aimed to raise bilateral trade turnover to 1 billion USD in the coming time. To fulfill this goal, Vietnam and Egypt should make more efforts, jointly remove trade barriers and promote cooperation between the localities of the two sides.

Egyptian Deputy Assistant Foreign Minister for Asian Affairs Hazem El-Tahry. Photo: vov.vn

Egyptian Deputy Assistant Foreign Minister for Asian Affairs Hazem El-Tahry stated that the economic relations between the two countries have continued to develop despite the impact of the Covid-19 pandemic. The two sides are also striving for updating existing agreements and finalizing new ones in the near future.

Besides trade cooperation, El-Tahry also emphasizes the importance of people-to-people exchanges as cultural exchange is one of the important pillars of Vietnam-Egypt relations. Tahry suggested that cultural cooperation should be promoted so that people of the two countries have the opportunity to learn about each other's culture.

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