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Opinions & Interviews

1 Oct 2018

Belarus, Vietnam agree to reach $0.5bn in mutual trade

Belarus, Vietnam agree to reach $0.5bn in mutual trade

MINSK, 1 October (BelTA) – Belarus and Vietnam plan to increase mutual trade to $0.5 billion, Chairman of the Council of the Republic of the National Assembly of Belarus Mikhail Myasnikovich said in an interview with the ONT TV channel, BelTA has learned.

“We agreed that it is necessary to reach $0.5 billion in mutual trade. In fact, we need to increase three times the amount we have today. At a meeting with the acting president of Vietnam we agreed that, first of all, this should be achieved through joint companies and regional cooperation. They have 63 provinces, a population of 100 million, improving living standards, and the annual economic growth of 6.5%. There is a potential,” said Mikhail Myasnikovich. The parties considered issues related to setting up joint companies, primarily with Minsk Automobile Plant.

The EAEU and Vietnam have signed a free trade agreement. “What do parliaments need to do to harmonize the laws of our countries in order to get the maximum effect from this agreement? We discussed these issues with the chairperson of the National Assembly of Vietnam and agreed that we will draft a corresponding agreement that we are most likely to sign during her visit to Belarus in H1 2019,” said the chairman of the Council of the Republic.

Belarus and Vietnam also plan to develop cooperation in the field of science and innovations. “We have agreed on issues related to scientific, technological, and innovative security. The head of the Vietnamese Academy of Science and Technology is expected to visit Belarus at the end of the year on the invitation of the National Academy of Sciences of Belarus,” added Mikhail Myasnikovich.

The Belarusian parliament is gearing up for the autumn session. “The agenda includes matters related to creating more comfortable doing business conditions. These are the issues pertaining to Ordinance No.7, additions and amendments to the Tax Code, the Civil Code, and the legislation on investment activity,” said the chairman of the Council of the Republic.

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