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Vietnam, Mongolia aim for 10 million USD in trade
Vietnam and Mongolia will do their utmost to strengthen their trade links in order to register a two-way import-export value of 10 million USD by 2010.
This determination was revealed in the minutes of the 13th session of the Vietnam-Mongolia inter-governmental committee on cooperation in trade, economics and sci-tech, signed by the two sides on Dec. 12.
The two sides also agreed to encourage businesses and trade promotion agencies from both countries to increase the exchange and sharing of information.
During the meeting, held in Ho Chi Minh City from Dec. 10-13, the two sides discussed plans for trade, economic, cultural and sci-tech cooperation between 2009 - 2011.
They expressed their satisfaction at current levels of cooperation in banking services, however, bilateral trade remains at a modest level, just 3-5 million USD, with the majority of export activities being undertaken by Vietnam.
Vietnam ’s exports to Mongolia have risen steadily in recent years, chalking up 2.4 million USD during 2005, 3.3 million USD in 2006 and 5.7 million USD in 2007.
The two sides acknowledged the contributions of visits by high-ranking leaders of the two countries, particularly the visit to Mongolia by State President Nguyen Minh Triet in October 2008, during which Vietnam agreed to the sale of 20,000 tonnes of rice to Mongolia .
The signing of cooperation agreements between the two countries regarding plant protection and quarantine regulations, customs, health, sci-tech and education play an important role in consolidating the legal environment and encouraging cooperation between the two nations.
The 14th session of the Vietnam-Mongolia inter-governmental committee will be held in Ulaanbaatar in 2010.
vna
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