HCMC – Vietnam and Kuwait have upgraded their relations to a strategic partnership and outlined key directions to strengthen cooperation in a more robust, comprehensive and sustainable manner.
Prime Minister Pham Minh Chinh held talks with his Kuwaiti counterpart Sheikh Ahmad Al-Abdullah Al-Sabah in Kuwait on November 17, during which the two sides agreed to upgrade the countries’ relations to a strategic partnership.
The two leaders noted that bilateral ties have continued to expand and strengthen over nearly 50 years, especially in trade, investment, energy, education, labor, and development cooperation.
Both sides agreed to step up mutual visits at all levels, particularly high-level exchanges; bolster existing cooperation mechanisms such as the inter-governmental committee and political consultations; and set up new specialised working groups, including a joint group on digital transformation, to advance collaboration across all sectors.
They also committed to enhancing cooperation in security and defence, including experience sharing and joint efforts to address cybersecurity and other unconventional security challenges.
The two prime ministers affirmed that economic, trade and investment cooperation remains a key pillar of the bilateral relationship, and aimed to work toward boosting two-way trade to over US$12-15 billion by 2030.
Vietnam proposed that Kuwait accelerate negotiations and the early signing of the Vietnam-Gulf Cooperation Council (GCC) Free Trade Agreement, and consider launching talks on a Vietnam-Kuwait comprehensive economic partnership agreement (CEPA).
The two sides affirmed their commitment to closely coordinate to enhance the efficiency and expansion of the Nghi Son refinery and petrochemical project, in the spirit of “shared benefits and shared risks.”
Vietnam expressed its readiness to provide petroleum services and high-quality human resources for projects in Kuwait, and to broaden cooperation into new initiatives, particularly the development of a regional petroleum storage and transshipment hub in Vietnam.
Building on the upgraded strategic partnership, the Kuwaiti prime minister welcomed new investment opportunities in Vietnam and pledged to spur the Kuwait Investment Authority and other Kuwaiti investors to pursue major, strategic projects in the country.
He also pledged to instruct the Kuwait Fund for Arab Economic Development to work with Vietnam to further promote development assistance in line with both sides’ interests.
The Kuwaiti prime minister additionally proposed that the two countries soon conclude an air transport agreement and explore the launch of a direct flight route.
Highlighting the strong potential for food security cooperation, he said Kuwait would promote studies on investing in an agricultural processing plant in Vietnam to supply the Kuwaiti market and the wider region.
In response, Prime Minister Pham Minh Chinh proposed negotiating a long-term framework agreement on strategic commodities, including rice, to support Kuwait’s food security, and advancing projects to develop the Halal ecosystem in Vietnam.
He stressed that Vietnam welcomes and will fully facilitate investments from Kuwaiti funds and enterprises, and encouraged the Kuwait Investment Authority (KIA) to invest in the international financial center in Vietnam.
Beyond economic cooperation, the two sides agreed to expand collaboration in emerging areas such as science and technology, digital transformation, innovation, cybersecurity, renewable energy, education and training, tourism, and people-to-people exchanges.
