Vietnam, Venezuela look to beef up economic cooperation

A delegation from the Vietnamese Embassy in Venezuela, led by Ambassador Le Viet Duyen, paid a working visit to Monagas state from July 9-12 to promote economic and trade ties, and potential cooperation initiatives between the two countries.

Participants at the workshop

Speaking at a meeting with the delegation, Governor of Monagas Yelitza Santaella briefed on the political, economic and cultural situation in the state, and highlighted its economic development potential in the spheres of oil, gas, Caribbean pine, large-scale husbandry and farming.

He expressed the wish that Vietnam will implement strategic investment projects to exploit and develop potential fields available in Monagas.

For his part, the Vietnamese diplomat pledged to constantly strengthen the bilateral relations in politics, diplomacy and culture, solidarity and long-standing and traditional friendship, and trade  between the two countries.

Within the framework of the visit, the Vietnamese Embassy in coordination with the Venezuela - Vietnam Chamber of Commerce  (CAVENVIET) held a workshop to discuss measures to expand trade cooperation between the two nations.

Duyen updated participants on Vietnam's socio-economic development achievements after 35 years of Doi Moi (renewal), with its GDP hitting 343 billion USD, becoming one of the world’s largest economies.

As one of the major production centres in the Asia-Pacific region and in the world, Vietnam is leading in exporting cashew nuts, pepper, and many other agricultural products, and the second biggest exporter of rice and coffee in the world, the diplomat said.

Vietnam is one of the world's leading manufacturing and exporting centres of hi-tech and electronic products, smartphones, and wooden furniture, he said, adding that Venezuela in general and Monagas state in particular, can promote export of suitable timber to Vietnam.

Entrepreneurs and farm owners in Monagas said they want to strengthen connections with Vietnamese businesses, especially in breeding dairy cows and beeves, large-scale farming and producing and processing wood, silicate compound, and household glass.

Duyen underlined the need to promote information sharing and business opportunities between enterprises of the two nations.

The two sides agreed to promote the establishment of branches of CAVENVIET and the Venezuela-Vietnam Friendship Association (CAVV) in Monagas to expand their activities in several key states of Venezuela, thus deepening connection between the people and businesses of the two countries.

Santaella pledged to create favourable conditions for Vietnamese businesses to operate and invest in potential fields in Monagas, especially in large-scale agricultural production.

CAVENVIET President Oswaldo Hernandez also promised that CAVENVIET will continue to work as a bridge to help further expand partnerships between enterprises of the two countries, contributing to the enhancement of bilateral economic ties./.

VNA