Untapped opportunities remain for Việt Nam-Azerbaijan cooperation

July, 18/2022 - 17:08
There are many opportunities to boost economic cooperation between Azerbaijan and Việt Nam, particularly in the energy sector, Deputy Foreign Minister of Azerbaijan Elnur Mammadovat said at a press conference in Hà Nội on Monday.

Deputy Foreign Minister of Azerbaijan Elnur Mammadovat talks to the press in Hà Nội on Monday. — VNS Photo Khánh Vân

HÀ NỘI — There are many opportunities to boost economic cooperation between Azerbaijan and Việt Nam, particularly in the energy sector, Deputy Foreign Minister of Azerbaijan Elnur Mammadovat said at a press conference in Hà Nội on Monday.

The diplomat is visiting Việt Nam from July 16-20.

"The economic cooperation between the two countries still fails to match the high-level political cooperation and friendship between Azerbaijan and Việt Nam," he said.

Two-way trade turnover between the two countries in 2021 reached roughly US$160 million and is rapidly increasing this year.

A Joint Economic Cooperation Commission between the two countries was established in 2015, covering the areas of economics, technical cooperation and scientific cooperation. Two meetings of the commission were held in 2017 and 2018 and the next meeting is scheduled to be organised in September or October this year, according to the Deputy Foreign Minister.

"The organisation of the third meeting this year is important as it will coincide with celebrations held in both Azerbaijan and Việt Nam to mark the 30th anniversary of the establishment of the diplomatic ties between the two countries," he said.

He added that, in the field of economic cooperation, oil and gas is a sector which is important both for Việt Nam and Azerbaijan. "Traditionally, we have cooperated closely in the energy sector with deep cooperation between the State oil company of Azerbaijan (Socar) and the Vietnam Oil and Gas Group (PetroVietnam)," he said.

As scheduled, during the visit, Deputy Foreign Minister Elnur Mammadovat will meet Vietnamese Foreign Minister Bùi Thanh Sơn and representatives of the Party Central Committee's Commission for External Relations, as well as attend the second political consultation between the two foreign ministries.

He will also attend a conference at the Diplomatic Academy of Việt Nam in Hà Nội on Tuesday to mark the 30th anniversary of the establishment of the diplomatic ties between Azerbaijan and Việt Nam.

"This is my first and an important visit to Việt Nam. I am expected to successfully hold the second round of the political consultation between the two foreign ministries and inform of the recent development of Azerbaijan and our region," he said.

"During the meetings, we will discuss measures to increase trade turnover between the two countries in the future. There remain untapped opportunities in economic cooperation between the two countries," he added.

"I will also share Azerbaijan's role as Chair of the Non-alignment Movement - which is the second largest organisation after the United Nations with 120 members, and discuss regional and international issues of common concerns," he added.

"We will also discuss the proposal to open the Vietnamese Embassy in Azerbaijan and the organisation of the third round of the joint commission for economic cooperation," he said.

Expressing his impression of the development of Việt Nam, he said Việt Nam has dynamic economic development across the region.

"We appreciate measures taken by the Government of Việt Nam, including the signing of free trade agreements, with major partners in the world. Việt Nam also posted an impressive GDP growth rate over the last 5-10 years," he said.

Cooperation between the two countries in other fields continues to develop, including education, culture and people-to-people exchanges, according to the diplomat.

At the press conference, the deputy foreign minister also noted that Azerbaijan is considered a transit country for goods shipped from Southeast Asia and Asia to Europe.

"We plan to turn Azerbaijan into a transportation and logistics centre for neighbouring countries."

"We propose Vietnamese businesses consider shipping goods through the transportation route that passes through the territory of Azerbaijan to help reduce transportation costs and time," he said. — VNS

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