Enhancing economic cooperation with traditional countries

Anh Huyen/ Thuy Van
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(VOVworld) - Prime Minister Nguyen Tan Dung is visiting Portugal and Bulgaria from June 3-6. His visits are to enhance Vietnam’s multi-faceted cooperation, particularly in economics with these EU-member states.
(VOVworld) - Prime Minister Nguyen Tan Dung is visiting Portugal and Bulgaria from June 3-6. His visits are to enhance Vietnam’s multi-faceted cooperation, particularly in economics with these EU-member states.

Enhancing economic cooperation with traditional countries - ảnh 1
Prime Minister Nguyen Tan Dung arrives in Figo Manduro airport in Lisbon

This year Vietnam celebrates the 40th anniversary of diplomatic ties with Portugal and the 65th anniversary with Bulgaria. As members of the EU, these two countries have good economic growth and share several similarities with Vietnam’s economy. Portugal and Bulgaria expect to boost its cooperation with ASEAN countries through Vietnam when the ASEAN Economic Community will take effect from next year.

Strengthening cooperation with Portugal

Vietnamese Ambassador to Portugal, Nguyen Ngoc Son, said Prime Minister Nguyen Tan Dung’s visit to Portugal from June 3-4 is the first by a Vietnamese Prime Minister. Although the two countries established diplomatic relations 40 years ago, their cooperation, especially in economics, has remained modest. Ambassador Nguyen Ngoc Son: "The Prime Minister’s visit will mark a new level of bilateral relations. Documents to be signed during the visit will open a new prospect for cooperation. Portuguese will know more about Vietnam. The Vietnam-Portugal Business Forum is scheduled to have representatives from 100 Vietnamese enterprises and a great number of Portuguese firms discussing market and business opportunities."


Prime Minister Dung will hold talks with Portuguese leaders and witnness the signing of a Double Taxation Avoidance Agreement, a cooperative agreement on tourism, and a cooperative agreement between the two Foreign Ministries. Prime Minister Dung and the Portuguese Prime Minister will co-chair the 2015 Maritime Economic Forum, which is expected to draw representatives from 50 countries and international organizations, including the UN, FAO, and the Organization of Economic Cooperation and Development (OECD). Ambassador Son said: “The forum is an opportunity for Vietnam to learn more about other countries’ concerns about oceanic issues and contribute ideas to protecting the oceanic environment and developing the maritime economy.”

Enhancing economic cooperation with traditional countries - ảnh 2
Portuguese government representatives welcome Prime Minister Dung

Heading toward a strategic partnership with Bulgaria

After Portugal, Prime Minister Dung and his entourage will visit Bulgaria, one of the first 10 countries that established diplomatic ties with Vietnam in 1950. The two countries have broadened their economic and trade ties in recent years with two-way trade increasing from 18.5 million USD in 2006 to 90 million USD in 2014. Both countries aim to elevate their bilateral ties and economic cooperation to a higher level via the 2014 new economic cooperation model. Vietnamese Ambassador to Bulgaria, Le Duc Luu, said: “During the visit, discussions will be held to find ways to improve the effectiveness of cooperation projects and investment promotion, as well as to resolve technical trade barriers for Vietnamese agricultural and fishery products exported to the EU market. The establishment of feasible joint ventures will also be discussed.”

Prime Minister Nguyen Tan Dung’s visits will reinforce Vietnam’s ties with Portugal and Bulgaria and the Eurasian Economic Union.

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