Vietnam’s economic potential introduced to Turkish PM

Vietnamese Deputy Prime Minister Vuong Dinh Hue has told Turkish Prime Minister Binali Yildirim that enterprises investing in Vietnam will have the opportunity to access a market of 90 million people with growing income and a high proportion of young consumers.

(VNF) - Vietnamese Deputy Prime Minister Vuong Dinh Hue has told Turkish Prime Minister Binali Yildirim that enterprises investing in Vietnam will have the opportunity to access a market of 90 million people with growing income and a high proportion of young consumers.

Through Vietnam, they can also expand their reach to the ASEAN market with 650 million people and total GDP of USD 2.5 trillion, stated Hue at the Vietnam-Turkey Business Forum on August 24th.

Vietnam’s economic potential introduced to Turkish PM

Deputy Prime Minister Vuong Dinh Hue at the Vietnam-Turkey Business Forum. (Photo: Quang Hieu/VGP)

Two-way trade between Vietnam and Turkey reached nearly USD 2 billion in 2016 and the two countries are targeting USD 4 billion by 2020. Turkish enterprises have invested USD 730 million in 13 projects in Vietnam.

Deputy PM Hue noted that, despite significant results, there remains much more room for bilateral trade relations to grow further, commensurate with the potentials and meeting the expectations of both countries.

Vietnam considers trade and investment cooperation as a pillar to promote Vietnam-Turkey relations in a more effective and substantive manner, added Hue.

The Vietnamese Deputy PM stated that he expects enterprises to be a leading force in implementing and realising the economic cooperation agreements signed between the two sides.

For his part, Turkish PM Binali Yildirim stated that the two countries’ government will strive to remove barriers to support businesses while also emphasising the need for a free trade agreement between Vietnam and Turkey in order to open more opportunities for enterprises.

With total population of more than 170 million people and gross domestic products valued at more than USD 2 trillion, the Turkish leader believed that the two-way trade revenue of USD 2 billion is far below the two countries’ potential.

Vietnam’s economic potential introduced to Turkish PM

Prime Minister Nguyen Xuan Phuc shakes hands with his Turkish counterpart Binali Yildirim at the Vietnam-Turkey Business Forum. (Photo: Quang Hieu/VGP)

Turkish businesses have begun to study the Vietnamese market with the intention of making investment in infrastructure and healthcare, the fields that they have a wealth of experience, he added.

He also took the occasion to invite Vietnamese enterprises to do business in Turkey and pledged to do everything within his capacity to support businesses and deal with obstacles facing them.

The business forum was jointly held by the Vietnam Chamber of Commerce and Industry (VCCI) and the Foreign Economic Relations Board of Turkey (DEIK) on the occasion of the official visit of the Turkish PM./.

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