Bilateral trade turnover to reach 500 million USD: Belarusian Deputy PM

Prime Minister Nguyen Xuan Phuc (R) and Belarusian Deputy PM Igor Lyashenko. Source: VNA

While receiving Belarusian Deputy PM Igor Lyashenko in Hanoi on September 25, PM Phuc appreciated Belarusian leaders and people’s sentiments to Vietnam, especially their assistance to natural disaster-affected residents in the central region. He also spoke highly of the close coordination between the two nations at international organisations and forums, particularly at the United Nations.

For his part, Lyashenko said trade relations between Vietnam and Belarus should be switch to the form of establishing industrial manufacturing joint ventures to serve both sides’ needs.

Hence, he proposed the two sides establish a joint venture to produce automobile tyres in Belarus using Vietnam’s rubber materials for exports to member countries of the Eurasian Economic Union and a joint venture to produce potassium fertiliser in Vietnam.

Lyashenko informed his host that Belarus and Vietnam will inaugurate a truck manufacturing factory in the northern province of Hung Yen on September 26. Belarus will also deploy a joint venture project to manufacture buses to serve Vietnam’s demand, especially Hanoi’s, he added.

The Belarusian Deputy PM expressed his belief that with efforts from both sides, bilateral trade turnover will reach the target of 500 million USD this year.

While hailing the results of the earlier talks between Deputy PM Igor Lyashenko and his Vietnamese counterpart Vuong Dinh Hue, PM Phuc believed the two sides would have successful cooperation programmes.

Vietnam is willing to create favourable conditions for the truck manufacturing joint venture in Hung Yen province to operate effectively with a long-term orientation to reach ASEAN markets, he said.

The Vietnamese Government has paid due attention to the automobile manufacturing sector, PM Phuc said, noting that the cooperation between the two countries in this field has many bright prospects.

He hoped that the joint venture would increase the localisation rate to 50 percent and suggested Belarus soon establish a joint venture with Vietnam to produce automobile tyres and step up bilateral cooperation in ore processing./.

VNF/VNA