11:08 | 20/09/2019 Cooperation
The Vietnam Chamber of Commerce and Industry (VCCI) held a workshop on September 17 in Hanoi regarding the opportunities for trade and investment cooperation between the two countries’ enterprises.
|Cement is one of Vietnam's main exports to Bangladesh|
The event took place on the occasion of a Vietnam visit by the Bangladesh Metropolitan Chamber of Commerce in Hong Kong, China (BMCCHK).
In his opening remarks, VCCI Vice Chairman Doan Duy Khuong stated that Vietnam-Bangladesh economic cooperation has seen positive changes in recent years, especially after the establishment of a joint trade sub-committee and its first meeting in April 2015.
Citing official data, Khuong noted that bilateral trade value was only US$14 million in 2002 but it has surged to US$813.5 million in 2018.
Two-way trade between the two countries already hit US$527.8 million in the first eight months of 2019.
Vietnam’s main exports to Bangladesh are clinker, cement, steel billets and mobile phones while the country mainly imports garment materials, pharmaceuticals and sesame.
As of April 2019, Bangladesh invested a total of US$1.18 million into Vietnam while Vietnam has an investment project in Bangladesh with a total capital of US$27,900.
According to Bangladesh Ambassador to Vietnam Samina Naz, the two governments aim to raise bilateral trade to US$1 billion in 2019 and 2020.
Speaking at the event, BMCCHK President Fazle Azim said that the two sides have worked together to successfully organise many workshops as a channel for the two countries’ enterprises to meet and connect.
He expressed his belief that Vietnam and Bangladesh have opportunities to further promote economic ties to new heights.