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Belarus, Vietnam to bolster trade and economic cooperation
MINSK, 25 May (BelTA) – Belarus and Vietnam plan to bolster trade and economic cooperation, Ambassador Extraordinary and Plenipotentiary of Vietnam to Belarus Dang Huy Tran told the annual seminar held on 25 May to discuss Belarus-Vietnam trade and economic relations.
The Ambassador remarked trade and economic relations have changed a lot but still fail to meet expectations of the two countries. He said bilateral cooperation in trade, economic, scientific and technical spheres is developing. Besides, Belarus and Vietnam plan to promote cooperation in production sector, high technologies and defense.
At the seminar Counselor of the Asia and Africa Office of the Belarusian Foreign Ministry Dmitry Koltsov said in the last five years Belarus-Vietnam trade soared 330% while Belarus’ export to Vietnam went up 300%. Among other things the positive changes owe to active efforts at the government and state levels. About $275 million worth of contracts and memorandums were signed during the visit of Prime Minister of Belarus Mikhail Myasnikovich to Vietnam in 2011.
In Q1 2012 Belarusian enterprises exported about $40 million worth of merchandise to Vietnam, 77% as against the same period of last year. The export reduction is primarily attributed to reduced deliveries of potash fertilizers. For the sake of improving the situation and for the convenience of Belarusian and Vietnamese companies the possibility of setting up a Belarusian-Vietnamese trading house in Hanoi in 2012 is under consideration.
Dmitry Koltsov also said the possibility of setting up an enterprise to assemble Minsk Motor Plant engines in Vietnam was under consideration. There are projects to exploit deposits of natural resources. Belarusian companies are working on setting up dairy industry joint ventures in Vietnam. The possibility of processing Vietnamese tea, coffee, and sea food in Belarus is being looked into.
In 2011 Belarus-Vietnam trade totaled $212 million, 45.2% up on 2010. The task to raise the figure to $1 billion has been set. In 2011 Belarus’ export to Vietnam grew by 55.8% to $164.4 million while Vietnam’s export to Belarus amounted to $47.6 million, 17.8% up on 2010.
Vietnam buys Belarusian potash fertilizers, tractors, trucks, tires, ferrous metal pipes, digital lamps, bearings, liquid pumps and other products. The Ambassador said Vietnam was interested in Belarusian dairy products and wheat. Primary imports from Vietnam are phones, rice, seafood, footwear, printing equipment, starch, natural rubber, tinned vegetables, and cashew nuts.
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