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Viet Nam, Bolivia target stronger trade co-operation

Update: December, 07/2013 - 09:21
Deputy PM Vu Van Ninh (M) witnessed the signing of a framework agreement on trade and investment between Vietnam and Bolivia.— VNA/VNS Photo Quang Son

LA PAZ  (VNS) — The Vietnamese Government has paid attention to promoting its friendship and co-operation with Latin American countries, including Bolivia, in the common interests of its people and development of the two regions.

Deputy Prime Minister Vu Van Ninh made the statement at a reception for Bolivian Foreign Minister David Choquehuanca in La Paz on Thursday, as part of his official visit to the Latin American nation from December 5-7.

This is the highest–level visit to Bolivia by a Vietnamese leader since the two countries established diplomatic ties.

The visit seeks to enhance the friendship, cooperation and mutual support between the two countries, creating momentum for the relationship to develop, both bilaterally and multilaterally.

The Deputy PM noted with the continuing progress in the growing political and diplomatic ties.

Despite moderate results in economic and trade ties, Viet Nam and Bolivia still hold much potential for cooperation in this field, he said, suggesting the early establishment of a legal framework for the bilateral economic relationship.

In reply, Choquehuanca praised the achievements Viet Nam has attained in its national development. He also highlighted the cooperative potential the two sides should extract for the interests of each country's people.

Following the meeting, Ninh witnessed the signing of a framework agreement in trade and investment by Vietnamese Deputy Minister of Industry and Trade Tran Tuan Anh and his Bolivian counterpart Clarems Endara.

The agreement is expected to create a foundation for the formation of an inter-governmental committee for trade and investment that facilitates cooperation in this field.

The same day, he held a working session with representatives of Bolivian businesses, organised by the Bolivian Confederation of Private Enterprises (CEPB).

The Deputy PM said his visit proved the Vietnamese Government's resolve, together with the Bolivian Government, to tighten the comprehensive cooperation with priorities given to economics and trade.

At the meeting, Deputy Minister Anh made a brief presentation on Viet Nam's investment environment and opportunities in Viet Nam, saying the freshly-inked framework agreement and the upcoming establishment of the intergovernmental committee will contribute to boosting the two countries' relations.

Viet Nam welcomes and pledges favourable conditions for Bolivian businesses to operate in the country and access Asia-Pacific markets, he said.

Meanwhile, CEPB President Daniel Sanchez Soliz encouraged Bolivian enterprises to visit the Southeast Asian country to learn development models and explore business opportunities.

Since Viet Nam and Bolivia set up diplomatic ties on January 10, 1987, the two countries have seen progress in their relations.

The two sides had reached an agreement on visa exemptions for diplomatic and official passport holders, a memorandum of understanding (MoU) on the establishment of a political consultation mechanism, and a MoU on co-operation in gas exploitation in Bolivia, which boasts the second largest gas reserves in Latin America, after Venezuela.

According to the Bolivian National Institute of Statistics, two-way trade between Viet Nam and Bolivia reached US$11 million in 2012, representing a year-on-year increase of 55 percent. — VNS

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