Seminar promotes economic links with Middle East, African nations
(VOV) -An international seminar on prospects for economic cooperation between Vietnam and Middle East and African nations opened in Hanoi on October 20.
Vietnam wants to promote its traditional friendship with countries in the Middle East and Africa, Ninh said.
Two-way trade increased from US$2 billion in 2005 to US$16 billion in 2014. The figure in the first 7 months of this year stood at US$8.7 billion.
He reiterated the Vietnamese government's commitment to creating favorable conditions for foreign investors including those from the Middle East and Africa.
 |
The Vietnamese government will make it easier for Vietnamese businesses to increase cooperation and investment in the Middle East and Africa, which has a strategically important location and rich natural resources.
With a total area of 36 million square kilometers and a 1.5 billion population, this area is a potential market for investment and cooperation, he noted.
In his speech, Secretary General of the United Nations Conference on Trade and Development Mukhisa Kituyi said Vietnam is among the few countries that has maintained a traditional friendship and business cooperation with the Middle East and Africa.
He hoped the seminar would devise new solutions for revamp legal regulations that facilitate business networking and diverse bilateral collaboration.
Vietnamese businesses, particularly those operating on small and medium scales, must improve their competitiveness to expand their operations into the Middle East and Africa, said the UN official.
Participants presented their ideas highlighting bilateral economic prospects at the seminar, including investment attraction opportunities and recommendations for Vietnam-Africa farming and fisheries coordination.