Promoting Vietnam-Panama cooperation

(VOV) - Panamanian President Ricardo Alberto Martinelli Berrocal's official visit to Vietnam from October 24-27 is aimed at boosting bilateral cooperation in potential areas.

During the visit, the first one by a Panamanian head of state since the two countries established diplomatic relations in 1975, Berrocal and his Vietnamese counterpart Truong Tan Sang will discuss the implementation of signed agreements for the benefit of their own national construction and development.

They include agreements on visa exemption for diplomatic and official passport holders, science-technology cooperation, and marine transportation, and a memorandum of understanding on agricultural cooperation.

Two-way trade between Vietnam and Panama has grown dramatically, from US$50 million in 2005 to US$245 million in 2011 and US$120 million in the first half of 2012. Vietnam’s main exports to Panama are wood, footwear, and handicraft products, and agricultural machinery. The two countries have huge potential for cooperation in marine transportation, agriculture, and traditional medicine.

Panama now has nine projects in Vietnam with a total capitalization of more than US$51 million.

Vietnam opened its embassy in Panama in 2002 and Panama opened its embassy in Vietnam in 2006. The Chairman of the then Council of Ministers, Pham Van Dong, and Foreign Minister Nguyen Dy Nien visited Panama in 1975 and 2002, respectively. Panama’s Minister of Agricultural and Livestock Development Guillermo Salazar and his successor Minister Victor Perez visited Vietnam in 2008 and 2010, respectively.

The two countries have enjoyed mutual support at international and regional forums. Panama supported Vietnam’s candidacy as a non-permanent member of the UN Security Council for the 2008-2009 term and recognized its market economy mechanism in 2010.

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