PM urges Vietnam and Egypt to increase two-way trade

08:32 | 25/08/2017 Cooperation

Trade between Vietnam and Egypt could develop strongly from the current annual level of US$400 million if the two sides make good use of cooperation opportunities.

PM Nguyen Xuan Phuc (R) receives Egyptian Minister of Investment and International Cooperation Sahar Nasr - Photo: VGP

Prime Minister Nguyen Xuan Phuc made commented on this while meeting with Egyptian Minister of Investment and International Cooperation Sahar Nasr and Admiral Mohab Mamish, Chairman of the Suez Canal Authority and head of the Suez Canal Economic Zone, in Hanoi on August 22.

He further stated that Vietnam readies to export its products to Egyptian supermarket chains and sell made-in-Egypt commodities in Vietnam.

Shar Nasr said Egypt boasts great potential in shipbuilding and seaport use, which Vietnamese businesses could explore investment opportunities. She commented that a business forum will be held during the upcoming visit by the Egyptian President to promote bilateral cooperation.

For his part, Mohab Mamish stated that a large volume of global cargo goes through the Suez canal annually.

He noted that Egypt has inaugurated an economic zone to connect the Mediterranean Sea with the Asian region, hoping Vietnamese firms will study investment opportunities in the zone.

PM Phuc hoped the two sides will sign cooperation agreements in trade and investment, emphasising on the bilateral cooperation potential in garment-textile, processed farm produce, and fisheries.

He proposed the idea that Egypt should create favourable conditions for businesses to cooperate in oil and gas exploitation and provision of services relating to this field.

The PM also suggested the inter-governmental committee devise specific programmes to boost the bilateral cooperation in a more pragmatic and efficient manner.

On the same day, the PM hosted Chairman of Charmvit Group from the Republic of Korea Lee Dea-bong.