Tuesday,  Jul 27, 2021,16:03 (GMT+7) 0 0
Vietnam, West Virginia foster bilateral cooperation
The Saigon Times
Friday,  Feb 26, 2021,13:19 (GMT+7)

Vietnam, West Virginia foster bilateral cooperation

The Saigon Times

The Vietnamese Ministry of Industry and Trade and the State of West Virginia signed a memorandum of understanding on February 25 – PHOTO: VGP

HCMC - The Vietnamese Ministry of Industry and Trade (MOIT) and the U.S. State of West Virginia on February 25 signed a memorandum of understanding (MoU) to foster bilateral cooperation in economy, trade and energy.

With the signing, MOIT and West Virginia aim to establish a comprehensive cooperation framework to facilitate trade and investment in the fields of industry and energy as well as to promote the sharing of information on potential business opportunities and support the projects and operations of businesses of both sides.

The MoU contains specific goals and clearly defines the responsibility and authority of each party in the implementation process. It also determines the establishment of a Joint Working Group to boost cooperation activities.

Addressing the signing ceremony, Minister of Industry and Trade Tran Tuan Anh highlighted the special importance of the Vietnam-U.S. relations and spoke highly of the role and effort of Congresswoman Carol Miller and Governor Jim Justice of West Virginia in promoting the economic and trade ties of the United States with Vietnam at the U.S. Congress and Government.

According to Anh, this is a very appropriate time for the two sides to promote in-depth cooperation to facilitate economic recovery and together cope with the Covid-19 pandemic. The Industry and Trade Minister stressed that the United States is an important and long-term partner of Vietnam in the field of energy.

“Besides the MoU that was signed in October 2019, which covers all energy sectors between the Vietnamese Ministry of Industry and Trade, the United States Department of State and the United States Department of Energy, we regard the comprehensive MoU signed by the Vietnamese Ministry of Industry and Trade and the State of West Virginia today an important foundation to promote long-term cooperation in specific sectors. This is an important milestone in energy cooperation between the two countries, opening a new chapter with more effective and comprehensive collaboration,” he said.

Vietnamese Ambassador to the U.S. Ha Kim Ngoc said since the comprehensive partnership was set up in 2013, Vietnam-U.S. relations have seen remarkable progress in all fields.

The United States is the biggest importer and the second biggest trading partner of Vietnam. Two-way trade exceeded US$90 billion for the first time last year despite the negative impacts of the Covid-19 pandemic. The figure is expected to reach US$100 billion this year.

“Cooperation commitments on investment and education included in the MoU will promote the potential and strengths of Vietnam and the State of West Virginia,” Ngoc said.

Congresswoman Carol Miller said the MoU will bring practical economic benefits for both sides, promoting harmony and balance in the Vietnam-U.S. trade ties.

With her roles in the state of West Virginia and at the U.S. Congress, Miller expects to further strengthen the mutual understanding and respect and cooperation in industry and trade, especially in the energy sector, between West Virginia and Vietnam.

Moreover, the State of West Virginia and the U.S. Government are always willing to support partners in the post Covid-19 economic recovery.

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