Economics

Kazakhstan and Vietnam agreed to establish joint ventures

The 9th meeting of the Kazakh-Vietnamese Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation (IGC) was held at the Ministry of Foreign Affairs, Kazpravda.kz reports citing the press service of the Ministry of Foreign Affairs of the Republic of Kazakhstan.

The Kazakhstan delegation was headed by the chairman of the Kazakh part of the Commission, Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Ermek Kosherbayev, and the Vietnamese delegation was headed by Hoang Kuok Vuong, Deputy Minister of Industry and Trade of the Socialist Republic of Vietnam.

The parties agreed on the availability of great potential in the field of agriculture, including through interaction between the research centers of the two countries to grow new varieties of rice. They noted the systematic implementation of the agreements of the previous meeting of the Commission, including the entry into force of the agreements on extradition of persons, mutual legal assistance in criminal matters, as well as the intensification of inter-parliamentary cooperation.

The Commission has identified such priority areas as holding the 1st meeting of the Subcommittee on agriculture in 2020, developing AIFC cooperation, concluding agreements on cooperation in the field of veterinary medicine, container transportation, transfer of convicted persons and mutual legal assistance and cooperation in customs affairs, as well as cooperation between agricultural institutes of the two countries.

Kazakhstan and Vietnam, being parties to the Free Trade Agreement between the Eurasian Economic Union and the Socialist Republic of Vietnam, agreed to intensify joint work in the framework of providing preferences for businessmen of the two countries to expand exports and imports of goods between the two countries, as well as to create joint productions in the light, food and processing industries, in particular, make efforts to organize modern production of clothes and shoes.

IGC co-chairs welcomed the 12th WTO Ministerial Conference on June 8-11, 2020 in Nur-Sultan and the inclusion of Kazakhstan in the list of countries whose citizens are granted an electronic visa by Vietnam.

The parties pointed to the opening prospects for the development of cooperation in the tourism sector, the most important prerequisites for which would be the further liberalization of the visa regime for citizens of the two countries, the opening of direct flights to Hanoi and Ho Chi Minh City, development of relations between the twin cities Nur Sultan and Hanoi, Almaty and Ho Chi Minh City.

The Vietnamese side expressed gratitude for the assistance in the successful implementation of the investment project of the Vietnamese company Mareven in the Almaty region for production of food products ($ 50 million attracted, 500 jobs created).

In general, the agenda of the meeting included a wide range of issues aimed at further developing and expanding cooperation in the political, trade, economic and financial spheres, in the fields of education and science, agriculture, transport, culture, tourism and sports.
17:00, 19 October 2019
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