08:15 | 06/11/2016 Cooperation
(VEN) - This November will mark the 45th anniversary of Vietnam-Norway relations. Over the past 45 years, cooperation between the two countries has shown significant progress, especially in trade and investment.
Minister of Industry and Trade Tran Tuan Anh (right) talks with Norwegian Ambassador to Vietnam Siren Gjerme Eriksen
According to the International Cooperation Department of the Ministry of Industry and Trade (MoIT), trade between Vietnam and Norway reached US$259 million in the first eight months of this year, a rise of 30 percent compared with the same period last year. The MoIT said this was an impressive result in the context of numerous difficulties still facing the global economy.
Many Norwegian businesses have been interested in the investment environment in Vietnam. Norway so far has invested in 31 projects in Vietnam with total capital of more than US$81 million, ranking 46th among 115 countries and territories investing in Vietnam. Norwegian investment in Vietnam mostly covers wood processing, construction materials, interior furniture, agriculture, forestry, fishery, information and communications.
Although Norwegian investment in Vietnam remains modest, many Norwegian investors have highly appreciated the investment environment and open policies of Vietnam. Common interests and similarities will continue to create opportunities for further bilateral trade and investment between Vietnam and Norway in the coming time.
At his recent meeting with Norwegian Ambassador to Vietnam Siren Gjerme Eriksen, Vietnamese Minister of Industry and Trade Tran Tuan Anh highly appreciated the results of bilateral cooperation over the past 45 years. He spoke about the untapped potential for economic cooperation, especially in the context of Vietnam deepening its integration into the global economy and negotiating a free trade agreement with the European Free Trade Association (EFTA). The MoIT requested Norway, as the coordinator of FTA negotiations between Vietnam and the EFTA, to facilitate the negotiations and put emphasis on the balance of interests as well as the development gap between the two sides.
In addition, Minister Tran Tuan Anh wished Norway would continue assisting Vietnam in worker training, enhancing product competitiveness, developing renewable energy, and other aspects of sustainable development. The MoIT will maintain tight cooperation with the Norwegian Embassy in Vietnam to further develop economic relations between the two countries.
According to Ambassador Siren Gjerme Eriksen, many Norwegian companies want to cooperate with Vietnamese partners in information technology, food processing, and manufacturing. She believed Vietnam’s investment incentives and the FTA between Vietnam and the EFTA would encourage Norwegian businesses to invest in Vietnam. The ambassador affirmed the Norwegian government’s willingness to accelerate FTA negotiations between Vietnam and the EFTA.
Norwegian Honorary Consul in Ho Chi Minh City Arild Haugan:
The Norwegian government pledged to create favorable conditions for businesses of the two countries to increase cooperation.