07 February 2023

Uzbekistan and Vietnam intend to expand trade, economic and investment cooperation

As part of a visit to the Socialist Republic of Vietnam, in Hanoi, negotiations were held between the Minister of Investment, Industry and Trade of the Republic of Uzbekistan Laziz Kudratov and the Minister of Industry and Trade of Vietnam Nguyen Hong Dien, the press service of the MIIT reported.

During the conversation, issues of deepening cooperation in the trade, economic, and investment spheres, developing industrial cooperation and interaction in the transport and logistics sector were discussed.

In particular, the parties noted a two-fold increase in trade between Uzbekistan and Vietnam in recent years. Taking into account the presence of significant untapped potential in this direction, an agreement was reached to expedite the consideration and conclusion of an Agreement on cooperation and mutual assistance in customs matters. In addition, the issue of forming a joint Working Group to develop proposals for increasing the volume and diversifying the range of mutual trade was agreed upon.

Issues of transport and logistics cooperation were discussed, bearing in mind the development of the most effective logistics routes.

Following the meeting, the sides confirmed the commitment of the parties to further strengthen cooperation within the framework of the discussed projects, as well as agreed to hold the next meeting of the Uzbek-Vietnamese Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation, and a joint business forum.