Vietnam and Saudi Arabia should sign agreements on investment protection and free trade as quickly as possible to create a legal corridor for long-term cooperation.
PM Nguyen Tan Dung was speaking at a meeting with Saudi Arabia’s minister of Agriculture, Fahad Bin Abdul Rahman Balghamin, and minister of Commerce and Industry Abdullah Bin Ahmed Zainal Ali Ridha, in Hanoi on March 23.
“The two nations should further promote their multifaceted cooperation, based on the great potential and strengths of each country,” PM Dung said.
He affirmed that the Vietnamese government welcomed discussions with Saudi Arabia to work out specific suitable cooperation models in the fields of agriculture, petro-chemistry and labour, for the sake of mutual benefits.
He also suggested that the two sides should promote the exchange of experts and businesses to seek the most cooperative way.
The Vietnamese leader expressed his hope that following their visits, the two ministers would work harder to increase the two countries’ cooperation.
The ministers said that potential for the two countries’ cooperation in agriculture was significant.
They said that during this visit, they will discuss with relevant Vietnamese ministries and agencies about mechanisms that boost cooperation in agriculture, labour and oil refining, so as to raise the two countries’ trade turnover.
The ties between Vietnam and Saudi Arabia are growing, especially in trade. Last year, the two countries earned $700 million in turnover.