Vietnam, Myanmar look towards US$1 billion in two-way trade

10:52 | 20/04/2018 Vietnam - Asean

Prime Minister Nguyen Xuan Phuc and State Counselor of Myanmar Aung San Suu Kyi agreed to further deepen bilateral trade and investment on win-win basis towards achieving US$1 billion or higher in two-way trade during their talks in Hanoi on April 19. 

PM Nguyen Xuan Phuc (R) and State Counselor of Myanmar Aung San Suu Kyi - Photo: VGP

The talks took place right after the welcome ceremony the same day.

The Vietnamese PM expressed his support for Myanmar during the national reconciliation and construction.

Aung San Suu Kyi congratulated Vietnam on obtaining important achievements over the past 30 years of renovation, especially in ensuring social welfare and sustainable development.

Both sides shared the view that the upgrade of bilateral ties to comprehensive strategic partnership during Myanmar visit by Party General Secretary Nguyen Phu Trong in August 2017 has opened up a new chapter in bilateral ties. Political, national defence-security, economic-trade-investment ties have been growing. Vietnam is now the ninth largest trade partner and the seventh foreign investor of Myanmar.

They vowed to further boost political and diplomatic collaboration via facilitating all-level visits through the Party, Government, State, National Assembly channels and people-to-people exchange, accelerate the organization of the ninth Vietnam – Myanmar Joint Commission, soon approve the Action Program to realize the bilateral comprehensive strategic partnership for 2018-2023.

Speaking highly of Vietnam’s projects in Myanmar and the PM’s sharing of experience in renovation and economic integration, the guest said Myanmar will build trade and investment policies to create favorable conditions for foreign investors, including those from Vietnam.

Host and guest highly valued the development of cooperation in defence-security. They pledged to extend collaboration into training, military medicine, search and rescue, sport exchange, and agreed to hold the deputy ministerial-level defence policy dialogue in 2018 as well as step up negotiations to soon sign the agreement on anti-crime and others such as the Agreement on Extradition and Agreement on the Transfer of Sentenced Persons.

The two leaders expressed their wish to further uphold other important cooperation fields, including finance, telecommunications, energy, agro-forestry-fisheries, people-to-people exchange. They welcomed the strengthening of coordination across transport, tourism, justice, education, culture and agreed to soon sign deals that lay legal foundation for specific fields.

On regional and global issues of shared concern, they pledged to work closely together at regional and global forums such as ASEAN, the Non-Aligned Movement, the United Nations, jointly work to successfully build the ASEAN Community which plays a central role in regional security architecture, sustainably and effectively use Mekong River water resources, especially within the framework of the Greater Mekong Sub-region cooperation mechanisms. PM Phuc expressed his support for Myanmar’s bid for the official membership of the Mekong River Commission...

Following the talks, they witnessed the signing of a Memorandum of Understanding on cooperation in telecommunications and information technology, and another on information cooperation.

The same day, Aung San Suu Kyi laid a wreath at the monument dedicated to martyrs.

Theo VNA