Kazakhstan aims to increase its exports to Vietnam across 35 commodity items worth over $96.9mn, spanning industries such as metallurgy, petrochemicals, food, chemicals, and mechanical engineering, the Ministry of Trade and Integration of Kazakhstan reported.
The 11th meeting of the Intergovernmental Commission on Trade, Economic, and Scientific-Technical Cooperation between Kazakhstan and Vietnam concluded in Astana. The meeting, chaired by Kazakh Minister of Trade Arman Shakkaliyev and Vietnamese Minister of Trade Nguyen Hong Dien, focused on enhancing bilateral trade and economic ties, with particular emphasis on agricultural exports.
In his address, Minister Shakkaliyev highlighted the progress in mutual trade, noting an 85.4% increase in trade turnover last year.
"The meeting of our Heads of State last August was pivotal in identifying economic priorities and setting specific targets, including boosting bilateral trade turnover to $1.5bn in the coming years," Shakkaliyev stated.
A key focus of the discussions was the potential for Kazakhstan to supply grain, wheat flour, pasta, confectionery, meat, dairy products, and cereals to the Vietnamese market.
Minister Shakkaliyev underscored Kazakhstan's capacity to organize meat product deliveries, contingent upon developing appropriate standards and certification processes to meet safety and quality requirements. Both sides agreed to exchange information soon on veterinary and sanitary requirements for various agricultural products, ensuring compliance and facilitating smoother trade.
In addition to agricultural exports, Kazakhstan expressed interest in deepening cooperation with prominent Vietnamese companies. LiOA, a company considering establishing an electrical equipment plant in Kazakhstan, Sovico Group, known for its aviation industry expertise, and VinFast, exploring opportunities for building an electric vehicle production plant, were among the discussed ventures. The Vietnamese company Mareven Food, which has generated over 600 jobs in Kazakhstan since 2017, was highlighted as a successful example of bilateral cooperation.
The meeting concluded with the signing of a Protocol outlining the agreements and future initiatives. Key decisions included the exchange of lists of potential export goods, the consideration of establishing a Kazakh-Vietnamese Business Council in both countries and promoting the opening of a Vietnamese trade mission in Kazakhstan.
The 12th meeting of the Commission is scheduled to take place in the Socialist Republic of Vietnam, where further progress on these initiatives will be reviewed and new opportunities for collaboration will be explored.
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