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Vietnam, Turkey eye US$4 billion in two-way trade

By Truc Dao

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HCMC – Vietnam and Turkey are poised to strengthen economic cooperation, with a shared goal of elevating their two-way trade to US$4 billion, according to the Vietnam News Agency.

This commitment emerged from a bilateral meeting between Vietnam’s Prime Minister Pham Minh Chinh and Turkey’s Vice President Cevdet Yilmaz in Ankara on November 29 (local time).

During their meeting, Vice President Yilmaz reaffirmed Turkey’s dedication to fostering friendly and multifaceted cooperation with Vietnam, aiming for mutual benefits, regional and global peace, stability, and development.

In response, Vietnam’s head of government proposed that Turkey explore options for reducing or eliminating anti-dumping taxes and trade barriers for Vietnamese exports, and also recognize Vietnam as a market economy.

Vietnam pledged to provide an enabling environment for Turkish corporations looking to invest in the country, particularly in priority sectors such as industrial production, high-tech agriculture, consumer goods, green economy, and innovation.

Both nations have agreed on a range of measures to enhance collaboration across various key sectors, including defense, politics, diplomacy, economy, trade, investment, and tourism. They have also expedited plans for the opening of the Turkish Consulate General in HCMC.

Following their discussions, Prime Minister Chinh and Vice President Yilmaz presided over the signing of several significant agreements, including a memorandum of understanding on cooperation in agriculture and forestry between Vietnam’s Ministry of Agriculture and Rural Development and Turkey’s Ministry of Forestry, a memorandum of understanding on cooperation between Vietnam’s Diplomacy Academy and Turkey’s Diplomacy Academy, and a letter of intent for cooperation between Vietnam Airlines and Turkish Airlines.

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