Vice Minister of Trade and Integration Kairat Torebayev said that Kazakhstan is ready to export nearly 90 processed goods to Vietnam, QazMonitor reports citing the ministry’s press service.
Torebayev met with Deputy Minister of Industry and Trade of Vietnam Dang Hoang An in Hanoi at the 10th meeting of the Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation between Kazakhstan and Vietnam.
The agenda of the meeting included a wide range of issues aimed at further development and expansion of cooperation in trade, economy, investment, banking, agriculture, transport, culture, tourism, and sports.
Torebayev announced his readiness to supply about 90 processed goods from Kazakhstan’s various industries worth $530.8 million to the Vietnamese market.
Since Kazakhstan and Vietnam are members of the Free Trade Agreement between the Eurasian Economic Union and the Socialist Republic of Vietnam, the countries have agreed to continue working together to provide conditions for business circles to expand exports and imports of goods between the two countries.
They also agreed on the creation of joint ventures.
In the near future, the parties plan to create the Kazakh-Vietnamese Business Council and elaborate on the signing of the following documents:
- The creation of the Kazakh-Vietnamese Business Council
- Memoranda of cooperation between KazakhExport and QazTrade with the Trade Promotion Agency under the Ministry of Trade and Industry of Vietnam
- Agreement in the field of veterinary medicine between the Ministries of agriculture of the two countries
- Memorandum between the National Agrarian University of Kazakhstan and the Academy of Agriculture of Vietnam
- Agreements on mutual cancellation of visa requirements and for the dissemination and adoption of national standards.
Moreover, to restore contacts in the post-pandemic period, the parties will resume work on creating a Subcommittee on Agriculture, the first meeting of which will be held in early 2023.
The trade turnover between Kazakhstan and Vietnam in January-July 2022 increased by 3.6% and amounted to 203.7 million dollars. Exports to Vietnam amounted to $27.7 million, imports – $176 million.