Vietnam, Mongolia Open Doors for Mutual Trade

Vietnam and Mongolia have agreed to open their markets to each other's goods, to increase bilateral trade to US $200 million.
October 02, 2024 | 08:50
Vietnam, Mongolia Join Hands to Empower Women in Science
Vietnam, Mongolia Enhance Traditional Friendship

During his state visit to Mongolia on September 30, General Secretary and President To Lam met with Chairman of the ruling Mongolian People's Party and Prime Minister Luvsannamsrain Oyun-Erdene, and Mongolian Chairman of the Parliament Dashzegve Amarbayasgalan.

Party General Secretary and State President To Lam (R) meets Chairman of the ruling Mongolian People's Party and Prime Minister Luvsannamsrain Oyun-Erdene. (Photo: VNA)
Party General Secretary and State President To Lam (R) meets Chairman of the ruling Mongolian People's Party and Prime Minister Luvsannamsrain Oyun-Erdene. (Photo: VNA)

At the reception, the two leaders reaffirmed their commitment to deepening political trust by maintaining high-level exchanges of all-level delegation.

Both leaders also stressed the importance of promoting practical and mutually beneficial cooperation to enhance economic, trade, and investment partnerships. They agreed to further utilize the Vietnam-Mongolia Inter-Governmental Committee as a platform to foster substantive and effective collaboration across economic sectors.

Additionally, they called for active participation from businesses in trade promotion activities and business networking events in both countries, aiming to ensure stable trade growth.

The leaders stress the importance of people-to-people exchanges and enhanced cooperation in culture, education, labor, science and technology, and information and communications.

General Secretary and President To Lam praised the signing of a new cooperation document between the Communist Party of Vietnam (CPV) and the MPP, which laid a foundation to advance party-to-party relations in the coming time.

For his part, Prime Minister Oyun-Erdene wishes to expand and deepen cooperation with Vietnam in various fields, including politics, defense, security, economy and trade, education, science and technology, transportation, logistics, culture, sports, and tourism, as well as at multilateral forums and mechanisms that match bilateral comprehensive partnership.

General Secretary of the Communist Party of Vietnam Central Committee and State President To Lam (R) and Mongolian Chairman of the Parliament Dashzegve Amarbayasgalan in a meeting on September 30 (Photo: VNA)
General Secretary and State President To Lam (R) and Mongolian Chairman of the Parliament Dashzegve Amarbayasgalan in a meeting on September 30 (Photo: VNA)

During a meeting with Mongolian Chairman of the Parliament Dashzegve Amarbayasgalan, both leaders spoke highly of the cooperation and exchanges between the two parliaments, which have developed in a more substantial fashion both bilaterally and multilaterally.

They agreed to continue effectively implementing the 2018 Cooperation Agreement between their legislative bodies, highlighting the importance of promoting the role of the legislative bodies in reviewing and supervising the implementation of the documents signed between the two countries and promoting the exchanges of high-level delegations and those of young parliamentarians.

The two sides agreed to enhance the role of their legislative bodies in coordinating to bolster the substantive, effective, and comprehensive connectivity between the two economies, making it in line with the comprehensive partnership, encouraging enterprises of both countries to engage in trade promotion programs and opening their markets to each other's goods on a reciprocal basis to achieve the goal of raising two-way trade turnover to US $200 million.

It is necessary for the two countries to step up trade and promotion activities, fortify cooperation in the diversification of the material supply chain, particularly in the areas of their strengths, and urge the signing of a new investment promotion and protection agreement.

Besides, they agreed to step up the popularization of tourism potential and strength, sharing tourism policies and tourism management and development experience and promoting local cooperation.

Dak Lak Looks to Boost Investment Opportunities in Mongolia Dak Lak Looks to Boost Investment Opportunities in Mongolia

This year marks the 70th anniversary of the Vietnam – Mongolia diplomatic ties (1954 – 2024)

Vietnam Cultural Day in Mongolia Promotes Friendship and Mutual Understanding Vietnam Cultural Day in Mongolia Promotes Friendship and Mutual Understanding

Vietnam Cultural Day in Mongolia will be held from September 30 to October 1 in Ulaanbaatar. The event has a significant role in promoting friendship ...

Phuong Nguyen
Phiên bản di động