VN-Bangladesh to boost trade cooperation

Wednesday, Sep 18, 2019 08:11

In the first eight months of this year, the bilateral trade turnover between Viet Nam and Bangladesh reached $527.8 million. VNA/VNS Photo Ngoc Quynh

The economic relationship between Viet Nam and Bangladesh has seen many positive changes in recent years, especially after the establishment of the Joint Trade Committee with the first meeting held in April 2015.

The statement was made by Doan Duy Khuong, vice chairman of the Viet Nam Chamber of Commerce and Industry (VCCI) at a conference held in Ha Noi on Tuesday.

The event was held on the occasion of a business delegation of Bangladesh Metropolitan Chamber of Commerce Hong Kong (BMCCHK) visiting Viet Nam.

This is a positive signal for finding opportunities for business and investment cooperation between the business communities of the two countries.

According to the statistics of the General Department of Viet Nam Customs, Viet Nam - Bangladesh import-export turnover has increased sharply from US$14 million in 2002 to $813.5 million in 2018.

Particularly in the first eight months of this year, the bilateral trade turnover between Viet Nam and Bangladesh reached $527.8 million.

The main export products of Viet Nam to Bangladesh are clinker, cement, steel billet and mobile phones. Viet Nam mainly exports textile, leather, shoes materials, medicine and sesame from Bangladesh.

In terms of investment, by April 2019, Bangladesh's total investment in Viet Nam reached $1.18 million, ranking 43 out of 80 countries and territories investing in Viet Nam.

Meanwhile, Viet Nam has one investment project in Bangladesh with a total capital of $27,900. Bangladesh currently ranks 68 out of 72 countries and territories in which Viet Nam has invested.

At the conference, Bangladesh's ambassador to Viet Nam Samina Naz appreciated the initiative to organise a meeting for the business community of the two countries. This was a necessary opportunity to build good cooperative relations on economy, trade and investment between the two countries, Naz said.

The two countries expect to promote bilateral import and export turnover to reach $1 billion by 2020. In order to realise this target, it is indispensable for the catalyst and the efforts of Viet Nam - Bangladesh Chambers of Commerce and Industry.

Fazle Azim, chairman of BMCCHK, said Viet Nam and Bangladesh had the opportunity to further promote bilateral relations in order to bring economic and trade relations to a new height.

The event drew the participation of nearly 50 Vietnamese firms and Bengali enterprises in Hong Kong, majoring in fields of real estate, textiles, textile accessories, cement, construction materials, chemicals, minerals, e-commerce, banking, shipping, food and drink from Australia and generators. — VNS


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