Speaking at a joint business roundtable in Yerevan on April 2, Man, who was on an official visit to Armenia, noted that Vietnam and Armenia have recorded significant achievements in socio-economic development and international integration since the establishment of diplomatic ties in 1992, and the relations have continuously developed bilaterally and multilaterally over the years.

While cooperation between the two countries has yielded remarkable results, he said, there remains vast potential that needs to be further promoted and fully leveraged.

According to the top legislator, both Vietnam and Armenia have open economies where exports play a crucial role and are well adapted to international trade principles. Vietnam has participated in the Free Trade Agreement between Vietnam and the Eurasian Economic Union (EAEU), which includes Armenia. This agreement presents significant opportunities to enhance and deepen economic and trade relations, thereby boosting bilateral trade growth.

Bilateral relations have been further strengthened, especially following the official visit to Vietnam by Armenian National Assembly President Alen Simonyan last November, where the two sides discussed the possibility of accelerating negotiations and signing cooperation documents, laying a legal framework for their agencies, organizations, individuals, and businesses to enhance exchanges, explore markets, and seize trade and investment opportunities.

To maximize the potential for cooperation, Man outlined several specific directions for businesses from both countries, including cooperation in software development, artificial intelligence, and technology solutions for education, healthcare, and smart urban management. He reasoned that Armenia, dubbed the ‘Silicon Valley’ of the region, boasts a strong IT sector, while Vietnam is accelerating digital transformation across all fields.

In agriculture and food processing, he said, Vietnam can supply tropical agricultural products such as coffee, cashew nuts, and seafood, while Armenia can share its expertise in processing high-quality agricultural products, particularly in wine and dried fruits.

Regarding renewable energy, he proposed that businesses from both sides cooperate in researching and investing in solar, wind, and small-scale hydropower projects, to leverage Armenia’s advanced technology and Vietnam’s abundant resources.

To foster deeper, more comprehensive, and effective cooperation between the two business communities, with a focus on investment and trade, Man urged both sides to actively facilitate opportunities for businesses to exchange, explore, and capitalize on cooperation and investment opportunities, particularly in high-potential sectors.

Vietnam is ready to act as a bridge for Armenia to enhance its relations with ASEAN, and hopes that Armenia will serve as a gateway for Vietnam to strengthen its ties with Eurasian Economic Union countries, said the legislator.

He urged both governments to continue improving the business and investment environment, creating the most favourable conditions for enterprises from both countries to strengthen cooperation and successfully implement investment and business activities in compliance with legal regulations.

He also encouraged the business communities to expand cooperation into ASEAN and Central Asia, which hold significant potential.

The joint business roundtable was part of Man’s activities during his official visit to Armenia at the invitation of National Assembly President Alen Simonyan.

During his stay, Man will hold high-level talks with Simonyan, and meet with the President and Prime Minister of Armenia. He will visit Yerevan State University, meet with the Head of the Armenia-Vietnam Friendship Parliamentary Group, and attend the Armenia-Vietnam Business Forum.

Vietnam and Armenia have maintained a strong and friendly traditional relationship. Armenia considers Vietnam an important partner in Southeast Asia. Both countries have continued high-level exchanges and engagements, including a recent meeting between Party General Secretary To Lam and Prime Minister Nikol Pashinyan on the sidelines of the 2024 Francophonie Summit in France, as well as the official visit of Armenian National Assembly President Alen Simonyan to Vietnam in November 2024.

Parliamentary cooperation between the two countries has continued to grow, especially following the Armenian National Assembly President’s visit to Vietnam. The Armenian National Assembly established the Armenia-Vietnam Friendship Parliamentary Group in 2021.

In recent years, economic, trade, and investment cooperation between Vietnam and Armenia has seen positive developments, particularly following the enforcement of the Vietnam-Eurasian Economic Union (EAEU) Free Trade Agreement in 2016. Bilateral trade volume reached US$342 million in 2023 and nearly US$500 million in 2024.

Armenia has invested in several projects in Vietnam, including an electronic component manufacturing plant in Chu Lai Industrial Park in Quang Nam province, with a total registered capital of US$12.9 million.

NA Chairman Tran Thanh Man begins official visit to Armenia

VOV.VN - National Assembly (NA) Chairman Tran Thanh Man, accompanied by his spouse Nguyen Thi Thanh Nga and a high-ranking NA delegation, arrived in Yerevan at 9:00 p.m. (local time) on April 1, starting an official visit to the Republic of Armenia at the invitation of President of the National Assembly of Armenia Alen Simonyan.

The two countries have also established an Intergovernmental Committee on Economic, Trade, and Scientific-Technical Cooperation, which held its first session in March 2017.