President Tô Lâm and President of Timor-Leste José Ramos-Horta reviewed the guards of honor during the welcome ceremony in Hà Nội on Thursday. — VNA/VNS Photo Lâm Khánh

HÀ NỘI — President Tô Lâm on Thursday hosted a red-carpet welcome ceremony for President of Timor-Leste José Ramos-Horta who is paying a state visit to Việt Nam from July 31 to August 3.

Following the welcome ceremony, the two leaders started their talks to evaluate the cooperation results over the past time, and pen orientations for collaboration in the future. They will witness the signing and exchange of several cooperation documents.

This is the second trip to Việt Nam by José Ramos-Horta following the first in 2010, and the fourth by a high-ranking leader of Timor-Leste.

Since the establishment of the diplomatic relations on July 28, 2002, Việt Nam and Timor-Leste have seen substantial development in their friendship and multi-faceted cooperation. They have maintained close ties and supported each other in the international arena, while leaders of both sides have kept high-level contacts.

The two nations have enhanced collaboration and coordination at both regional and international forums. Việt Nam, together with other ASEAN nations and the ASEAN Secretariat, has always supported Timor Leste to fulfil the criteria necessary for ASEAN membership.

President Tô Lâm and President of Timor-Leste José Ramos-Horta meet children of Hà Nội. — VNA/VNS Photo An Đăng

Two-way trade between Việt Nam and Timor-Leste remains modest, mainly driven by Việt Nam's rice and garment-textile exports to Timor-Leste. Last year, Việt Nam's shipment to the country stood at US$15.49 million, while its import was worth $371,000. In the first five months of this year, Việt Nam sold $6.09 million worth of goods to Timor-Leste, up 29.4 per cent year-on-year

Regarding investment, Viettel Telemor run by Việt Nam's Military Industry and Telecommunications Group (Viettel) has gained a firm foothold in the market with its investment capital rising to $15 million from the initial $500,000 in 2012, becoming one of the three largest telecom service providers in the country.

Timor-Leste holds substantial potential for Việt Nam's exports like rice, processed food, milk and dairy products, footwear, beverages, household utensils, and machinery. Meanwhile, to serve its economic activities in the coming years, Việt Nam will need more inputs such as fuels (oil and gas), raw wood, and minerals, which are of Timor-Leste’s potential.

José Ramos-Horta’s state visit is of significance to consolidating political trust while creating opportunities for both nations to continue discussing measures to boost their cooperation and deepen the bilateral ties, thus tightening the traditional friendship that has been nurtured over the past time. — VNS

A view of the welcome ceremony for Timor Leste President. — VNA/VNS Photo An Đăng