Vietnam, Venezuela ramp up agricultural co-operation

Vietnamese Ambassador to Venezuela Le Viet Duyen and his delegation participated in a working visit to Guarico state in the South American country from February 25 to February 28 with the aim of boosting agricultural production projects and promoting potential co-operation initiatives.

During the course of the meeting, Governor of Guárico state José Vásquez informed participants about the political, economic, and cultural situation, whilst exchanging views on the results of a project involving Vietnamese rice production development cooperation throughout the 2015 to 2019 period.

Governor Vasquez therefore highlighted the close friendship that exists between the two nations across a variety of fields, such as politics, social affairs, agriculture, and energy, whilst expressing hope that Vietnam will continue to implement agricultural production projects and contribute to the further development of Guarico.

In response, Ambassador Duyen emphasised that strengthening bilateral ties with the Guarico state administration across multiple fields, especially agricultural production, will be an effective means of contributing to the comprehensive partnership between both nations.      

Within the framework of economic diplomacy activities, the Vietnamese Embassy in Venezuela hosted a seminar aimed at strengthening agricultural co-operation between the two countries. This was done whilst introducing the potential of Vietnamese agricultural items with the participation of Freddy Gomez, chief of the State Government Office of Guarico, representatives of relevant agencies, along with approximately 40 businesses and households operating in the local rice growing and agricultural sectors.

Upon reviewing the outstanding achievements in bilateral ties and introducing the export potential of agricultural products, the Vietnamese diplomat stated the strengths of items such as rice, coffee, cashew nuts, pepper, fruit and vegetables.

In terms of trade and economy, both Venezuela and Vietnam are seen as potential markets for each other which can meet the goals of market expansion and the diversification of firms from the two nations.

Although Venezuela faced numerous financial and economic difficulties last year, two-way turnover reached US$24.93 million, of which Vietnam mainly exported coffee, apparel products, footwear, and rubber worth US$22.39 million. In return, the country imported seafood, steel scrap, garment and textile materials, and leather shoe valued at US$2.54 million from the South American country. However, these figures are still not commensurate with the comprehensive partnership that exists between both sides.

The Vietnamese ambassador there stated that in the agricultural sector, the country enjoys many strengths in production experience, human resources, techniques, and seeds, while Venezuela has plenty of advantages in soil, climate, and market.

With strengths on both sides, the Vietnamese Embassy in Venezuela is particularly keen in boosting bilateral co-operation and development in the agricultural sector with a view of boosting trade and agriculture moving forward.

During the course of the seminar, the business community expressed their great appreciation for the Vietnamese rice production development project implemented in Guarico during the 2015 to 2019 period, especially the outstanding yield of rice varieties VIVE50 and VIVE95 which are viewed as suitable for the local climatic and soil conditions. They also suggested that the state’s administration co-ordinate alongside the Vietnamese Embassy in Venezuela to ramp up the second phase of this project, including the import of new seeds, agricultural machinery, and fertilizers. This can be done in order to develop the agricultural potential of Guarico, which is considered the "largest granary of Venezuela".

As part of the occasion, Governor Vasquez and Ambassador Duyen signed a Memorandum of Understanding (MoU) on the enhancement and development of strategic co-operation projects on agriculture, high technology, commerce, and socio-culture. This is in addition to the acceleration of the establishment of the Ho Chi Minh Institute of Politics and Society at the National Experimental University "Romulo Gallegos" in the Guarico State.

This comes after Ambassador Duyen held working sessions with local leaders about strengthening investment co-operation in the agricultural sector between both sides  during his working visits to the states of Yaracuy and Cojedes.