Vietnam, Egypt look to strengthen trade, investment connectivity

Illustrative image (Photo: Internet)

Speaking at the event, Ambassador Tran Thanh Cong recalled Vietnam’s social and economic achievement recorded over the past 30 years, highlighting that bilateral economic cooperation and trade have witnessed encouraging outcomes, but they have yet to match potential due to the lack of information. In that context, the trade and investment promotions will be of great importance, he added.

Sharing the view, head of the working team of the MoIT Tran Thanh Binh said the two-way trade value last year of 470 million USD has failed to correctly reflect the potential. That is why in the time to come, the two countries need to solve outstanding issues so as to further push up the bilateral trade, especially in the context that each country has advantageous products that can penetrate the other market.

Speaking to VNA correspondent, EBA CEO Mohamed Youssef held that the two countries should weather challenges and obstacles to bring two-way trade to 1 billion USD in the time to come. It is most important that the business communities of the two countries intensify the contacts for better understanding, thus broadening the scopes of their investment and cooperation, he added.

At the conference, queries on Vietnam’s commodity market was settled and many Egyptian companies expressed their hope to increase exports to Vietnam, while the Vietnamese peers raised the idea that the two sides should boost cooperation in the direction of prioritizing key products on the basis of mutual benefit./.