Vietnam, Uruguay eye stronger economic cooperation
VOV.VN - Deputy Minister of Industry and Trade Do Thang Hai and Uruguayan Deputy Minister of Foreign Relations Carolina Ache Batlle co-chaired the second meeting of the Vietnam-Uruguay Joint Committee on October 21 to discuss economic, trade, and investment co-operation.
During the virtual event, both sides reviewed co-operation across a range of fields from economics, trade, investment, and finance, to agriculture and science and technology following the first meeting held back in October, 2018, in the Uruguayan capital of Montevideo. They discussed and proposed plans aimed at further stepping up bilateral co-operation in the near future.
Both sides therefore agreed that bilateral trade relations remain modest and far below their full potential, with participants stressing the need to ramp up co-operation in bilateral and multilateral frameworks, whilst diversifying import and export products.
Moving forward, the two sides should primarily focus on promoting trade and connection activities, along with supporting the business community in seeking markets and greater business opportunities towards gradually recovering post-COVID-19 bilateral trade.
Data compiled by the General Department of Vietnam Customs indicates that the total import-export turnover between both countries in 2020 hit US$70.76 million, a year-on-year drop of 6.89%.
For agricultural co-operation, the two sides welcomed the establishment of direct contacts in order to continue to exchange technical issues in the process of licensing for potential agricultural products to be exported to each other's markets.
They also suggested greater co-operation in food safety, customs, science and technology, software, and wood exploitation and processing.
The successful organisation of the meeting indicates the fruitful relationship and determination to bolster comprehensive co-operation between the two nations.