VN, Mongolia look to expand economic and trade cooperation

Deputy Prime Minister Trinh Dinh Dung receives Minister of Food, Agriculture and Light Industry of Mongolia Chultem Ulaan, Ha Noi, December 6, 2019

The host welcomed the high consensus reached during the recent 17^th meeting of the Viet Nam-Mongolia Intergovernmental Committee for economic, scientific and technical cooperation, while recalling the sincere and pure support of the Mongolian people for Viet Nam’s struggle for national protection and construction.

He affirmed that the traditional friendly relations between the two countries are growing finely across various spheres, reflected through the channels of people-to-people diplomacy and high-level and all-level meetings.

However, bilateral trade and economic cooperation still remains modest compared to their development potentials and desires, with two-way trade revenue only reaching US$31.5 million in 2018, down 53.6% year on year, Deputy PM Dung said.

He proposed that the two sides maintain the exchange of high-level and all-level delegations and meetings, promote the efficiency of the Intergovernmental Committee mechanism and review the knots in bilateral cooperation.

At the reception. Photo: VGP

The official also stressed the need to soon research the launch of a direct air route between Viet Nam and Mongolia, as well as to create a favorable environment to encourage businesses to make investments and do business in each other’s country.

Minister Chultem Ulaan, for his part, said during the 17th meeting of the Intergovernmental Committee, the two sides agreed on many important issues aiming to accelerate bilateral economic-trade-investment cooperation, towards the goal of bringing two-way trade to US$100 million by 2020.

The guest suggested the Viet Nam and Mongolia strengthen trade and goods exchange, while opening the market to each other, thus helping to fully tap into the potentials and advantages of each country.

Mongolia wishes to import rice, coffee, vegetable oil, confectionery, eggs, poultry and seafood from Viet Nam, and is willing to export coal and livestock products to the Southeast Asian country, such as frozen meat and leathers for the leather, footwear and bag industry, he said.

                                                                                                            By Vien Nhu