PM: Vietnam eager to boost cooperation with Uruguay

The cabinet leader made the statement at a reception in Hanoi for Foreign Minister of Uruguay Rodolfo Nin Novoa on October 21 during which he said he welcomes Uruguay’s proposal for a free trade agreement (FTA) with Vietnam.

Despite trade value remaining modest, bilateral trade  has recorded rapid growth, he said while suggesting relevant ministries and agencies should should do research and devise measures to increase two-way trade value.

He also asked the two sides to maintain the exchange of delegations at all levels to deepen mutual understanding and discuss measures to strengthen bilateral relations.

It is imperative for two governments to actualize signed agreements, and promptly establish a joint committee for economic, trade and investment cooperation in line with their framework agreement on trade and investment that took effect in April 2016, he emphasized.

PM Phuc called on the two sides to work together to finalize a legal framework for bilateral collaboration while encouraging their business communities to seek opportunities in each other’s market and set up direct partnerships.

Vietnam is an open market with a lot of opportunities for foreign investors, particularly when the country officially joins the Trans-Pacific Partnership (TPP) deal, he told his guest and assured his nation's readiness to serve as the gateway for Uruguay firms to enter the ASEAN market.

For his part, Minister Rodolfo Nin Novoa said Uruguay wants to deepen trade ties with Southeast Asian countries, particularly Vietnam which has a good economic growth and great development potentials.

He hoped the two countries will soon sign a free trade pact to foster trade and investment ties.

The minister asked the Vietnamese government to further facilitate the import of goods from Uruguay, especially beef and fruit, adding that Uruguay has begun to import more goods from Vietnam.

He suggested Vietnam dispatch athletes to Uruguay for training while Uruguay can send its football team to Vietnam to bolster bilateral sports cooperation.

The minister also expressed hope that PM Nguyen Xuan Phuc will visit his country in the time ahead.