Turkey, Vietnam sign three key agreements to boost trade

Vietnam, which develops its economy by taking Southeastern Asia states China, South Korea and Singapore, has also captured the attention of Turkish investors. Continuing his visits of strategic importance to the rising economies of the Far East, Prime Minister Binali Yıldırım said that he is pleased to pay the first prime ministerial visit from Turkey to Vietnam, and added: “Vietnam has in recent years taken very important developmental steps in this region of the Far East. Turkey is also a developing and dynamic country like Vietnam, so there are similarities between the two countries. They have similar populations, and their growth rates are high. Our bilateral trade volume can easily reach $4 billion by 2020; and we have the potential to do so.”

Prime Minister Yıldırım held a joint press conference with his Vietnamese counterpart Nguyen Xuan Phuc in Vietnam on Wednesday. Noting that the two countries will celebrate the 40th anniversary of their diplomatic affairs, Yıldırım said that Turkey and Vietnam, due to their locations are doors of opportunities in their regions, and that Turkey is determined to boost relations with Vietnam in every field.

Before the joint press conference, Turkey and Vietnam signed the “Memorandum of Understanding on Cooperation in Free Zones,” “Export Processing Zones, and Exclusive Economic Zones,” and “Customs Cooperation and Mutual Administrative Assistance Agreements.” An “Action Plan” agreement was also signed between the Turkish Standards Institute (TSE) and the Directorate for Standards, Metrology and Quality (STAMEQ).

Vietnam’s Prime Minister Nguyen Xuan Phuc said in the meeting that he hopes Yıldırım’s visit opens a new chapter in the bilateral relations. “We confirmed that we agree on boosting the two countries’ cooperation in various fields,” he added.

Pointing out that Turkey and Vietnam should support their businessmen, Nguyen said that they agree on peaceful resolutions of disputes in Southern and Eastern China seas, and other international problems. Nguyen stated that they aim to increase the bilateral trade volume to $4 billion dollars by 2020, and a shared decision was made on lifting the double taxation between Turkey and Vietnam. Nguyen said a business forum will be held with the Turkish businessmen who accompany Yıldırım during his visit, and added: “I believe that business and investment relations between Vietnam and Turkey will be promoted.”