Saudi Arabia steps up agricultural links with Vietnam
Saudi Arabia has noted Vietnam’s experience in ensuring food security and wants to enhance links with Vietnam in agriculture, said Saudi Arabian ministers.
During separate meetings with Vietnamese State President Nguyen Minh Triet in capital Riyadh on April 11, Minister of Agriculture Fahad Bin Abdulrahman Balgonaim, Finance Minister Ibrahim Bin Abdullaziz Al-Assaf, and Minister of Industry and Trade Abdullah Bin Ahmad Zainal proposed signing an investment encouragement and protection agreement with Vietnam in order to create a legal foundation for increasing investments from both countries.
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They added that Saudi Arabia will cement agreements reached by senior officials from both countries during President Triet’s current visit.
For his part, President Triet emphasised that Vietnam always attaches great importance to fostering comprehensive links with Saudi Arabia, especially in the fields of oil and gas, agriculture, trade, investment, and labour. Vietnam will create the best possible conditions for Saudi Arabian businesses to invest in the country, he underlined.
President Triet suggested that the two countries should take advantage of each other’s competitive edges to boost the trade of essential goods. Vietnam could export commodities such as garments, footwear, agricultural and aquatic products, electronics and construction materials to Saudi Arabia while importing oil, gas and chemicals from the Middle Eastern nation, he said.
Vietnam, which boasts substantial experience in agriculture, is ready to help Saudi Arabia improve its production techniques to ensure long-term food security, he added.
President Triet also called on Saudi Arabia to grant preferential loans to help Vietnam develop infrastructure in rural and mountainous areas.
Later the same day, Saudi Arabia’s Prince Al-Waleed Bin Talai held a banquet for President Triet and his delegation.