Vietnam and Bangladesh propose ways to lift two-way trade to US$2 billion

Home / News / Viet Nam

Ha Phuong 10:17, 2018/03/06

President Tran Dai Quang and Bangladeshi Prime Minister Sheikh Hasina proposed ways to lift two-way trade to US$2 billion by 2020 during their talk in Dhaka on March 5.

President Tran Dai Quang and Bangladeshi Prime Minister Sheikh Hasina.

In addition, the two leaders considered the possibility of forming joint ventures, associations, and production chains, as well as applying high technology in agricultural production.
At the talks, which took place during President Tran Dai Quang’s State visit to Bangladesh on March 4-6, the leaders outlined major orientations as well as specific measures for bilateral relations in the future. They said that the two countries should bring into full play their advantages to gain better cooperation results as both are potential markets with huge populations, young labour forces, and dynamic business communities, as well as serve as gateways to Southeast Asia and South Asia.
The two leaders discussed cooperation possibilities in garment and textiles, leather shoes and leather products, food processing, and pharmaceuticals on the basis of each country’s strengths, while pledging to speed up the opening of a direct air route connecting the two countries.
The Bangladeshi leader committed to creating all favourable conditions to help Vietnamese enterprises expand investment in his nation. She expressed her hope to learn from Vietnam’s experience in agricultural production, affirming to continue importing Vietnamese rice.
The two leaders reached a consensus on strengthening collaboration in defence, security, education, tourism, culture, and people-to-people diplomacy, while maintaining a good relationship at regional and international forums, including the United Nations, the Non-Aligned Movement, the ASEAN Region Forum, and the Asia-Europe Meeting (ASEM).
Discussing regional and global situations of mutual concern, they expressed support for the promotion of peace, stability, and security, as well as aviation and maritime freedom and safety on the East Sea, as well as the settlement of disputes by peaceful means on the basis of international law, including the United Nations Convention on the Law of the Sea 1982, the implementation of the Declaration on the Conduct of Parties in the East Sea, and the formation of a practical Code of Conduct in the East Sea.
After the talks, the two leaders witnessed the signing of several co-operation documents: a memorandum of understanding (MoU) on aquaculture and husbandry cooperation during 2018-2022 between the Vietnamese Ministry of Agriculture and Rural Development and the Bangladeshi Ministry of Fisheries and Livestock, an MoU on machinery manufacturing cooperation between the Vietnamese Ministry of Industry and Trade and the Bangladeshi Ministry of Industries, and an agreement on cultural exchange programmes between the Vietnamese Ministry of Culture, Sports and Tourism and the Bangladeshi Ministry of Culture.
At the press conference following the talks, PM Hasina stressed that Vietnam is one of the closest neighbors of Bangladesh and shares the same aspirations of promoting peace and development. Additionally, she appreciated the shared cultural and traditional social values between the two countries.
She affirmed the Bangladeshi Government encourages enterprises of the two countries to seek business and investment opportunities at each other’s markets. The Bangladeshi Government wishes to set up a sectoral partnership dialogue with the ASEAN and join the Mekong-Lancang Cooperation forum, she said.
Highlighting the fruitful development of bilateral relations, President Quang stressed that on the basis of the solid diplomatic ties over the past 45 years and the great potential of the two nations, the leaders agreed to seek suitable measures to create breakthroughs and deepen bilateral relations in a more intensive, practical, and effective manner for the sake of their people.
He said, along with agreeing on key orientations for the relations, many specific measures have been outlined to promote cooperation across a variety of fields, from politics-diplomacy, defence-security, economy-trade-investment, and agriculture-husbandry to education-training, culture, and tourism.
The two sides will enhance the high-level visits and fully tap into bilateral cooperation mechanisms, as well as exploit possibilities of collaboration in defence-security, especially in the defence industry, logistics, and military healthcare, he noted.

Comments

Other news

20:47, 2025/01/22

Vietnam news in brief - January 22

Stay up to date with the latest news from The Hanoi Times.

20:53, 2025/01/21

Vietnam news in brief - January 21

Read The Hanoi Times for more updates about Vietnam and its capital.

08:58, 2025/01/21

Vietnamese leaders congratulate President Donald Trump on inauguration day

Vietnamese leaders expressed confidence that, under Trump's leadership, the partnership would continue to grow based on mutual respect for independence, sovereignty, and political systems.

23:10, 2025/01/20

Vietnam, Czech Republic issue Joint Statement on elevating ties to Strategic Partnership

Prime Minister Pham Minh Chinh and Prime Minister of the Czech Republic Petr Fiala have issued a Joint Statement, upgrading Vietnam-Czechia relations to a Strategic Partnership during the Vietnamese Prime Minister's official visit to the Czech Republic, from January 18 to 20.

21:52, 2025/01/20

Vietnam news in brief - January 20

Read The Hanoi Times news in brief to get the latest updates on the country.

06:05, 2025/01/20

President calls for overseas Vietnamese to join hands in nation-building efforts

The president said Vietnam will strengthen efforts to promote patriotism, fulfill aspirations, preserve the Vietnamese language, and uphold the nation’s cultural heritage among overseas Vietnamese.

Most view