Vietnam, Turkey seek to promote trade partnership
A Vietnam - Turkey trade promotion conference was held in the form of teleconference on September 11, aiming to connect businesses of the two sides and provide them with information on the potential, business climate and culture in the two countries.
As a country with the seventh biggest agricultural sector in the world in terms of production value and a growing industrial sector, Turkey is a promising market for Vietnam. Potential areas for Vietnam in this market include smart agriculture, logistics, tourism, leather and footwear, and industry.
Addressing the conference, Do Quy Dung, Chairman of the Vietnam - Turkey Business Association said that both Vietnam and Turkey boast great potential and attractiveness to each other's investors.
Although Vietnam is strong in agriculture, tourism, logistics and aquatic farming, the country lacks investment and experience in smart agriculture and aquatic farming, he said, suggesting that Vietnam and Turkey foster cooperation in these fields.
Dung stressed the need for the two governments to organise more trade exchange activities between the two sides, while providing businesses with information on trade fairs, conference and import-export regulations in each country.
General Secretary of the Vietnam Chamber of Commerce and Industry (VCCI) Tran Thi Lan Anh highlighted the sound partnership between the two countries, especially in economy. In 2021, two-way trade reached US$1.6 billion, which rose to US$1.9 billion in 2022, making Vietnam the second biggest trade partner of Turkey among ASEAN member states.
As of May 2023, Turkey invested in 34 projects in Vietnam worth US$974.26 million, ranking 26th out of 143 countries and territories investing in Vietnam, she noted.
However, she asserted that the achievements in bilateral partnership have remained modest compared to the economic potential of each country.
As a bridge for businesses of the two countries, the VCCI will continue to actively support enterprises from Turkey and coordinate with the relevant agencies of Turkey to promote their long-term collaboration with Vietnamese peers, she pledged.
