Vietnam, Egypt Aim to Raise Bilateral Trade Turnover to 1 Billion USD
	Vietnam, Egypt Seek to Deepen Ties in Trade, Technology, and Green Energy

Vietnamese Deputy Minister of Foreign Affairs Nguyen Minh Hang (L) meets Minister of Foreign Affairs, Migration, and Egyptian Expatriates Affairs Badr Abdelatty in Cairo on November 28. (Photo:VNA)

During the meetings, both sides reviewed the traditional friendship and multifaceted cooperation between Vietnam and Egypt, reflecting on the outcomes of recent high-level visits and interactions. They acknowledged positive progress in economic cooperation, especially in trade and investment, with growing interest from Vietnamese businesses in the Egyptian market.

Abdelatty emphasized Egypt’s commitment to strengthening ties with Vietnam in economics, trade, and investment by promoting intergovernmental cooperation, government-business partnerships, and enterprise cooperation. He described the Vietnam-Egypt friendship as special and expressed a desire to develop 'limitless' relations with Vietnam across all fields. Highlighting investment cooperation, he encouraged Vietnamese businesses to expand their engagement and utilize Egypt’s market of 115 million consumers. He also emphasized Egypt’s potential as a gateway for Vietnamese businesses to access larger markets such as Europe, Africa, and COMESA.

Assistant Foreign Minister Ahmed Shaheen emphasized Egypt's strong expectations for expanding trade and investment cooperation with Vietnam. He highlighted Egypt's desire for Vietnamese businesses to transfer technology and expertise, and to leverage Egypt's investment incentives. He also stressed the importance of opening markets for each country's key products.

Deputy Minister of Foreign Affairs Nguyen Minh Hang noted that over the past 60 years of diplomacy, Vietnam-Egypt cooperation has made significant progress, positioning Egypt as one of Vietnam's leading partners in Africa. She proposed intensifying comprehensive cooperation across all fields, strengthening political trust, increasing high-level visits, and elevating bilateral relations. She emphasized creating breakthroughs in areas such as economy, trade, investment, tourism, Halal, renewable energy, food security, construction, and fisheries.

Highlighting the similarities in economic scale and demography, Nguyen Minh Hang urged the expansion of business and investment activities in each other’s markets and the organization of more connection events for business communities. She also proposed focusing on market access for complementary export products, developing agreements and frameworks, and exploring the possibility of negotiating a free trade agreement to elevate bilateral cooperation.

Both sides agreed to expedite the organization of the 6th Vietnam-Egypt Joint Committee meeting and the 3rd Subcommittee on Industry and Trade Cooperation meeting. They also aimed to promote negotiations on agreements like the Double Taxation Avoidance Agreement, updates to the Agreement on Investment Promotion and Protection, and memoranda of understanding between their chambers of commerce and industry. They reaffirmed the importance of multilateralism, respect for international law, and their commitment to friendly cooperation at regional and international forums. They vowed to work together for peace, cooperation, and development globally.

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Vietnam, Egypt eye USD 1 billion in bilateral trade turnover Vietnam are Egypt are striving to meet the set target of bringing bilateral trade turnover to USD1 billion soon.