Vietnam – Venezuela looking towards energy alliance

Overview of the meeting (Image by Tuan Anh – Vietnam News Agency)

At the meeting between Venezuelan Nicolas Maduara Moros and Vietnam business representatives on 31/8 in Ha Noi, saying about future promising investment cooperation between Vietnam and Venezuela, Deputy Minister Hoang Trung Hai pointed that under bad state of world economy, economic and trade tie between Vietnam and Venezuela have yet to match the two countries’ potential and strength.

Therefore goverments and businesses from the 2 sides should pay more effort, increase exchanges and  take initiative in researcing market, seeking cooperation possibilities and extract opportunities offered by trade promotion programs between  the two countries.

Over the 25-years diplomatic establishment between Vietnam and Venezuela, apart from political – diplomatic – cultulral achievements, economic and trading relations between the 2 countries was also put as their focus. Although bilateral trading turnover was rather low, it still continuouly grew – from $ US 20 millions in 2010 to more than $ US 62 millions in 2014.

In regards to cooperation, there are many fields the 2 sides could work with each other such as : energy, oild, consuming industry, healthcare, technology and especially agriculture....
President Nicolas Maduro Moros streesed that Venezuela always higly appreciated Vietnam – Venezuela’s multiple cooperations. Lately, the 2 goverments had reached to agreements on important decisions for economic development. Taking energy as an example, Venezuela and Vietnam was aiming to build a strategic alliance through investment cooperation with Petrol Vietnam for ensuring 2 sides enery securities.
In addition, Venezuela decided to increase trading with Vietnam by boosting solution for cooperation agreements between business communities of the 2 sides. The President expected Venezuela and Vietnam’s trading turnover could be reach up to $ US 1 billion.  

President Nicolas Maduro Moros also released that three agricultural cooperation project with Vietnam are being implemented in his country’s central region.
4th Sep, 2015