The Viet Nam-Belarus Business Council, intended to accelerate bilateral trade and investment relations between the two business communities, made its debut in Ha Noi on Thursday.

In his speech at the event, the Viet Nam Chamber of Commerce and Industry (VCCI) vice chairman Hoang Quang Phong spoke highly of close co-operation in many areas between Viet Nam and Belarus over past years.

The development and integration process of the two nations has opened up many opportunities for their businesses, Phong said.

However, he said, there remains room for firms to enhance broader co-operation, especially in the sectors of engineering and manufacturing, infrastructure development, construction, agriculture and education.

For his part, Vladimir Goshin, the Belarusian Ambassador to Viet Nam, said the Viet Nam- Belarus relationship must be strengthened by extensive economic co-operation.

The ambassador said he hopes the business council will act as a good dialogue channel for businesses and government agencies on both sides.

He emphasised the importance of bringing the two countries’ trade relations to a higher level with the establishment of industrial zones and join-ventures to produce goods not only to serve the domestic market, but also for export to others in the ASEAN bloc.

He suggested that Vietnamese enterprises should focus on taking full advantage of building specific business strategies for overseas markets, including Belarus.

Earlier in March, Vietnamese and Belarusian firms agreed to set up a joint auto venture, worth US$60 million, and a dairy factory with a capacity of 100-200 tonnes of milk per day in the northern province of Hung Yen.

The two governments set a target of raising two-way trade to $500 million in the near future, from the current $100 million. — VNS