31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Trade - Service
Embassy key to boosting the Vietnam-Philippines economic relations: National Assembly Chairman
Son Nguyen 07:24, 2022/11/26
National Assembly chairman Vuong Dinh Hue visited the Vietnamese Embassy in the Philippines during his tour of this country.

Officials of the Vietnamese Embassy in the Philippines are key to bolstering bilateral economic, trade, and business relations between the two nations, National Assembly’s chairman Vuong Dinh Hue has said.

Chairman of the National Assembly Vuong Dinh Hue meets officials of the Vietnamese Embassy in the Philippines on November 24. Photo: Vietnam News Agency

At his visit to the Vietnamese Embassy in the Philippines, Hue said that the trade counselor of the embassy must detect and resolve the issues arising in bilateral economic and trade relations.

The national assembly chairman said that each embassy official needs to propose feasible measures to the Government to take the Vietnam-Philippines relationship to higher levels.

Chairman Hue commended the embassy for accomplishing assignments despite having encountered a lot of adversities in recent years.

He also asked the embassy officials to promote Vietnam’s strategic relationship with the Philippines through discussions and exchanges at all levels.

Vietnam and the Philippines are strategic partners in the ASEAN. However, bilateral trade has not reached its full potential, Hue said.

According to the chairman, bilateral trade amounts to US$7 billion. The two nations expect the figure to reach US$10-15 billion in 2026 on the 50th anniversary of the Vietnam-Philippines diplomatic relation.

Hue also urged the embassy to develop a database of Vietnamese expats and assist in establishing Vietnamese associations in the Philippines.

The embassy must support local Vietnamese to resolve their issues in accommodation, business operation, and study, and maintain and promote Vietnamese traditions in the Philippines, Hue said.

According to Ambassador Hoang Huy Chung, the Philippines is a large market in the region with a large population, making it favorable for Vietnamese rice exports.

The ambassador hoped Vietnamese enterprises would seize the opportunity to boost agricultural exports to the country, especially high-tech farm produce.

National Assembly’s chairman Vuong Dinh Hue is in the Philippines on an official visit to the country at the invitation of President of the Philippine Senate Juan Miguel Zubiri.

Hue is also the first Vietnamese high-ranking official to visit the Philippines in 2022 and the first National Assembly chairman to visit the country since 2006. He has held meetings with high-ranking Philippine government officials, attended the Vietnam-Philippines Investment and Trade Forum, and had discussions with Philippine corporations.

RELATED NEWS
TAG: Vietnam the Philippines Embassy foreign relations Foreign Affairs economic relationship business cooperation trade relationship Vuong Dinh Hue
Other news
21:39, 2023/39/28
Vietnam spends US$9 billion on oil imports in 2022
South Korea was the largest petroleum supplier of Vietnam, with 3.22 million tons, up 96% year on year.
20:05, 2023/05/26
Vietnam set for robust economic growth in 2023: Experts
The country’s economic performance next year will remain solid despite strong headwinds.
14:45, 2023/45/19
Vietnam calls for int’l support in green development
Vietnam would not sacrifice social advancement, equality, and the environment for economic growth.
13:45, 2023/45/17
Switzerland to support Vietnam’s transition to green economy
Vietnam encourages Swiss investment in high-priority fields such as finance banking, insurance, manufacturing and processing, pharmacy, renewables, and tourism.
16:27, 2023/27/12
Vietnamese Govt to restructure real estate, bond markets in 2023
The main objective for Vietnam in 2023 remains to ensure stable macroeconomic fundamentals, contain inflation, and boost growth.
14:41, 2023/41/10
Vietnam strives to become developed country by 2050
The average GDP growth should be around 7% for 2021-2030, and GDP per capita would reach US$7,500 by 2030.