During the reception, Dung highlighted the growing time-honoured relationship across multiple fields such as politics, economy, trade and culture, reflected through people-to-people diplomacy and regular meetings at all levels.
He welcomed the Mongolian minister’s visit which takes place at a time when both nations are celebrating the 65th founding anniversary of diplomatic ties.
However, Dung stated that economic, trade and investment partnerships between the two countries is still far from meeting potential and expectations of both sides.
Last year's two-way trade hit only US$31.5 million, down 53.6 percent over 2017, he noted, while underlining the need for the two sides to maintain regular delegation exchange and high-level meetings, and improve the efficiency of the inter-governmental committee mechanism.
The Deputy PM suggested dealing with problems during the cooperation process, stepping up connections between business communities and markets of the two nations, considering the opening of a direct air route, and offering favourable conditions for their enterprises to further promote partnerships.
Ulaan Chultem, for his part, said that during the 17th meeting of the Vietnam-Mongolia Inter-Governmental Committee for Economic, Scientific and Technical Cooperation, the two sides agreed on important measures to advance economic, trade and investment cooperation towards the bilateral trade target of US$100 million next year.
He urged Vietnam and Mongolia to enhance trade exchange and open their doors widely for each other’s goods, thereby fully tap the potential and advantages of each nation.
Mongolia desires to import rice, coffee, vegetable oil, confectionery products, eggs, poultry meat and aquatic products from Vietnam, and export to the Southeast Asian nation coal, frozen meat and leather, he added.