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Bangladesh and Vietnam to work closely to increase bilateral trade volume

Bangladesh along with Vietnam wants to work together to double the bilateral trade volume from around $1 billion to $2 billion by 2021. Both countries agreed to encourage commercial banks to open branches in each other’s capital to ease business transaction.

The two countries held the second meeting of the Joint Trade Committee (JTC) in Hanoi on December 27 and 28 discussing ways to enhance the bilateral trade volume.

The countries talked about business and investment issues and identified 11 priority areas including agricultural trade and pharmaceutical exports from Bangladesh to Vietnam.

Vietnamese investment in Bangladesh’s Special Economic Zones, ICT sector cooperation, bilateral cooperation in textile and garments sector, trade in Halal products, trade in software services, direct air link, promotion of trade in jute and jute goods, banking sector cooperation and tourism sector cooperation (including Buddhist tourism) were also discussed, reports Dhaka Tribune.

Commerce Secretary Dr Md Jafar Uddin and Vietnam’s Deputy Minister for Industry and Trade Cao Quoc Hung led their respective sides at the JTC meeting.

Bangladesh Ambassador to Vietnam Samina Naz and Director General (South East Asia), MOFA MJH Jabed attended the meeting as members of Bangladesh delegation.

Bangladesh requested Vietnam to send delegations to visit Bangladesh and gain firsthand experience about the pharmaceutical industry, Hi-tech parks and Special Economic Zones in Bangladesh.

That private sector airlines operators between the two countries would be encouraged to assess the market and introduce flights was agreed at the meeting when both sides agreed to constitute Joint Business Council comprising apex business bodies of both countries.

The commerce secretary also called on Vice President of the Vietnam Chamber of Commerce and Industry (VCCI) Doan Duy Khuong at the VCCI office and requested for more cooperation at B2B levels and sought interventions of VCCI.

 

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