Nation goes global in trade push

The Vietnamese government has been working with the governments of China, Chile, Armenia, Columbia, Italy, Bhutan and European Union to bolster investment and trade ties between Vietnam and these markets.

At a meeting between Vietnam’s Deputy Minister of Foreign Affairs (MoFA) Ho Xuan Son and his Chinese counterpart Zhang Zhijun in Beijing last week, the two sides vowed to accelerate concerted preparations for exchange visits of the two countries’ leaders. China is Vietnam’s comprehensive strategic partner. Particular focus was put on an official visit to China by Vietnam’s President Truong Tan Sang in the second quarter of 2012.

This visit would aim to fortify the bilateral relationship – with trade and investment high on the agenda – via specific solutions to raise the two nations’ two-way trade turnover to $60 billion by 2015, from more than $30 billion last year, some $27 billion in 2010 and $16 billion in 2009, according to the MoFA.

Son and Zhijun committed to develop measures for a large portfolio of key cooperative projects until 2015 to be clinched soon between the two nations.

In December last year, during Chinese Vice President Xi Jinping’s official visit to Vietnam, the leaders pledged to boost cooperation in economics, culture, health care, education-training, science-technology, and information and communications technology. China remains Vietnam’s 14th largest foreign investor with 832 projects with total registered capital of $4.31 billion.

In similar developments, Chile’s Senate President Guido Girardin Lavín made an official visit to Vietnam last week. He said Chilean President Sebastián Piñera would pay an official visit to Vietnam late March in order to step up bilateral ties in trade and investment. The two nations’ two-way turnover touched $500 million in 2011.

Lavín, Sang and Vietnam’s National Assembly chairman Nguyen Sinh Hung vowed Vietnam and the Latin American nation would further cooperation in agriculture and fisheries, environmental protection, natural mineral exploration and exploitation and climate change. The two sides also expressed a desire to ink cooperation agreements relevant to these sectors soon.

In another development, chief operating officer of the European External Action Service David O’Sullivan used his official visit to Vietnam last week to reaffirm the European Union’s commitment to stand by Vietnam as the country made important decisions for its long-term development prospects.

“Vietnam is a key partner in South East Asia for the European Union. Our relations are grounded on strong mutual interests. Both sides are committed to further expanding and strengthening their political dialogue. The European Union regards Vietnam as a partner with whom there is room to take forward cooperation to address global and regional challenges,” he said.

Italy was also on the scene last week with talks held between MoFA Minister Pham Binh Minh and Italian Foreign Minister Giulio Terzi di SantAgata. The senior Italian official said Italy wanted to lift the two nations’ existing relationship to a strategic level and recognised Vietnam’s market economy status. The two sides pledged to increase two-way trade turnover to $3 billion in the 2012-2013 period, from 2011’s $1.5 billion.

Meanwhile, Armenian Foreign Minister Edward Nalbandyan, Colombian Foreign Minister Maria Angela Holguin and Lyonpo Kinzang Dorji, special envoy of the prime minister of the Royal Government of Bhutan, also paid official visits to Vietnam as they looked to strengthen the friendship and multifaceted cooperation between their nations and Vietnam.