HCMC – State President of Vietnam Luong Cuong and Egyptian President Abdel Fattah El-Sisi released a joint statement on August 5 announcing the elevation of bilateral relations to a comprehensive partnership.
President Luong Cuong is paying a state visit to Egypt from August 3 to 6 at the invitation of Egyptian President Abdel Fattah El-Sisi, according to the Vietnam News Agency.
On the afternoon of August 5, the two leaders held a private meeting, followed by official talks between the two high-level delegations and a joint press conference to announce the outcomes of their discussions.
They agreed to upgrade bilateral relations to a comprehensive partnership to better leverage the cooperation potential, especially in agriculture, trade and investment.
Notably, the two sides agreed to establish a working group to study the feasibility of negotiating a Vietnam-Egypt free trade agreement, develop appropriate mechanisms to reduce the trade deficit between the two countries, and strengthen cooperation between their commercial banks.
In terms of investment, a Vietnam-Egypt business council will be established to enhance trade and investment cooperation between the two countries.
The council will comprise leading companies operating in areas of mutual interest, thereby encouraging bilateral business exchanges and exploring investment opportunities in sectors such as infrastructure, innovation, and information technology.
In agriculture, the two countries agreed to enhance the sharing of development experience and agricultural techniques, particularly in fisheries, rice cultivation, animal and plant quarantine, and sustainable agricultural development.
