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Opinions & Interviews

31 Aug 2016

Ambassador: Belarus, Vietnam can reach bilateral trade target of $500 million

Ambassador: Belarus, Vietnam can reach bilateral trade target of $500 million

MINSK, 31 August (BelTA) - Belarus and Vietnam will be able to increase the bilateral trade to $500 million, Ambassador Extraordinary and Plenipotentiary of Vietnam to Belarus Le Anh told a press conference on 31 August, BelTA has learned.

“I think our countries will be able to ramp up the supplies, as was agreed, and increase the trade to $500 million,” Ambassador Le Anh noted.

According to the diplomat, this will be greatly facilitated by the free trade agreement between the Eurasian Economic Union and Vietnam which will enter into force on 5 October. According to the agreement, the rates of customs duties on most of the goods that the two countries trade in will be reduced.

Ambassador Le Anh believes that creating joint assembly plants of passenger and freight equipment holds great prospects. A relevant intergovernmental protocol was signed in March this year. “Our countries are situated far from each other. To reduce the prices for products, it was decided to create joint manufactures in Vietnam. Belarus will supply us with vehicle kits and we will assemble them. There are plans to sell finished products both in Vietnam and also in the ASEAN countries,” the diplomat said.

The two countries are working to implement the previous agreements on deliveries of potash fertilizers, and are currently negotiating the price. Participation of Belarusian experts in designing the subway in Hanoi is also in the works.

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