Việt Nam, Egypt strive for $1 billion in trade

Prime Minister Nguyễn Xuân Phúc receives Egyptian President Abdel Fattah el-Sisi in Hà Nội on Thursday. - VNA/VNS Photo Thống Nhất

He told visiting Egyptian President Abdel Fattah el-Sisi in Hà Nội on Thursday that Việt Nam treasures friendship and co-operation with Egypt.

The PM called on the two sides to step up co-operation, saying they should increase the exchange of goods of their strength such as tea, seafood, rice, cashew nuts, coffee, pepper, garments-textiles and rubber of Việt Nam, and petrochemical products, chemicals, cotton and processed food from Egypt.

He suggested Egypt soon approve the Double Taxation Avoidance Agreement signed by the two countries in 2006 and create conditions for the Việt Nam National Oil and Gas Group (PetroVietnam) to operate and invest in Egypt.

Việt Nam wishes to boost collaboration with Egypt in national defence, agriculture, culture, tourism, transport and education-training, the Government leader said.

Expressing his thanks to the Egyptian government for granting Arabic language scholarships to Vietnamese students, Phúc said these students had contributed to bilateral ties.

He urged the two countries’ diplomatic agencies to work together in organising activities to celebrate the 55th anniversary of diplomatic ties.

The host suggested assigning agencies of Việt Nam and Egypt to research President Hồ Chí Minh’s activities in Egypt, considering it an invaluable asset that helps tighten the bilateral relationship.

He thanked the Egyptian government and people for their support to Việt Nam in evacuating Vietnamese workers from Libya in 2011 and 2014.

In reply, President el-Sisi said his visit aimed to affirm that Egypt places importance on ties with Việt Nam.

He also used the occasion to invite PM Phúc to visit Egypt.

The President informed his host about outcomes of his talks with President Trần Đại Quang, during which the two sides agreed on co-operation plans and signed agreements.

Egypt hopes to co-operate with Việt Nam and learn from the country’s experience in socio-economic development, he said.

Egypt respected Việt Nam’s experience, particularly in developing industrial parks, fishery and seafood processing, the President said, noting his wish that the two countries would join hands in these realms.

President el-Sisi said Egypt had about a 4,000 km Red Sea coastline and a market of 91 million people, which, he considered a great opportunity for Vietnamese businesses to invest in the country.

Egypt can also serve as a gateway for Việt Nam to enter the African and Middle East markets, he said, adding that Egypt’s engagement in free trade agreements with Africa, Gulf States and Europe would make it easier for Vietnamese goods to access these markets.

He stressed that Egypt wishes to balance trade with Việt Nam and that Vietnamese enterprises should invest in his country’s industrial parks.

In education, Egypt stands ready to provide scholarships for Vietnamese students, he said, voicing his hope for enhanced co-operation in tourism.