Vietnam - Uzbekistan Still Have Potential for Bilateral Cooperation
|Minister of Planning and Investment Nguyen Chi Dung received the Minister of Investment, Industry and Trade of Uzbekistan Laziz Kudratov, and the Delegation. Photo: Vietnamtimes
At the meeting, Minister Nguyen Chi Dung highly appreciated the cooperative relationship between Vietnam and Uzbekistan. However, up to now, the results have been lackluster.
Minister Nguyen Chi Dung emphasized that the two countries still have a lot of room and opportunities to further increase the trade turnover of two-way investment as well as direct investment. To do this, relevant agencies of the two countries should strengthen dialogue, and exchange of information, capabilities, and needs. From there, propose measures, forms, and models of cooperation, sharing, and complementing each other. The role of the embassies of the two countries in organizing activities for businesses to explore opportunities for trade, investment, and cooperation is especially important.
Minister Laziz Kudratov expressed his desire to strengthen the business connections between the two countries; establish a joint working group to provide solutions to connect trade; develop industries with strengths such as textiles, construction, chemicals, and minerals; and find new cooperation opportunities in the future.
|Minister Nguyen Chi Dung and Minister Laziz Kudratov at the meeting. Photo: Vietnamtimes
Minister Nguyen Chi Dung agreed with the comments and suggestions of Minister Laziz Kudratov. He said that Uzbekistan and Vietnam have a lot of potential and advantages that can be complemented and shared together. However, there is no direct flight between the two countries, the exchange of goods is mainly by sea at a high cost, and Uzbekistan's geographical position is not close to major seaports. Therefore, the two sides need to find a suitable way to promote trade and investment in order to take full advantage of the potential and advantages of the two countries.
Along with that, the two sides need to review investment procedures, promote the mechanism of the Intergovernmental Committee of the two countries to study and implement specific contents through this Committee; organize activities to exchange information and seek investment opportunities. From there, it is necessary to implement specific content to achieve practical results.
|Since Vietnam and Uzbekistan established diplomatic relations in 1992, the two countries have signed many framework agreements, such as the agreement on economic and trade cooperation (1994); an Agreement on the avoidance of double taxation (1996); an Investment Promotion and Protection Agreement (1996); Agreement on the establishment of the Vietnam - Uzbekistan Intergovernmental Committee on economic - trade and scientific-technical cooperation (1996). These are the premise for promoting investment cooperation between the two sides.
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