Vietnam, Belarus seek stronger economic ties through intergovernmental commission

Minister of Industry and Trade Nguyen Hong Dien and Belarusian Deputy Prime Minister Anatoly Sivak co-chaired the 16th Session of the Vietnam-Belarus Intergovernmental Commission on Economic-Trade and Scientific-Technical Cooperation in Hanoi on April 1.

The session reviewed the progress of previous agreements and acknowledged positive developments in traditional sectors such as diplomacy, trade, industry, agriculture, science, culture, sports, and education. Discussions also explored new areas of cooperation, including construction, health care, and information technology.

While acknowledging several positive outcomes in bilateral collaboration, both sides recognized that their current cooperation falls short of the potential and strengths both countries possesses.

To address this, Minister Nguyen Hong Dien proposed a series of measures to deepen collaboration, including:

First, continue effectively executing high-level agreements reached during Belarusian Prime Minister Roman Golovchenko's visit to Vietnam in December 2023.

Second, strengthen information sharing and policy consultations at all levels to address challenges and obstacles during implementation. This includes finding flexible solutions to boost bilateral trade turnover.

Third, continue efforts to improve market access for goods from both sides, including agricultural products, seafood, dairy products, transportation vehicles, agricultural machinery, and equipment.

Fourth, provide favorable conditions for businesses from both countries to participate in fairs, exhibitions, and trade exploration opportunities; and promote the effective use of preferential treatment offered by the Free Trade Agreement between Vietnam and the Eurasian Economic Union (EAEU).

Fifth, research and propose partnerships in emerging and high-tech sectors where one country has advantages and the other has needs. Potential areas include foundational industries like processing, manufacturing, mechanical engineering, materials, chemicals, and advanced sectors such as semiconductor chips, artificial intelligence, cloud computing, green transition, and circular economy.

Sixth, Vietnam requested that Belarus create optimal conditions for Vietnamese businesses, including Belarusian entrepreneurs of Vietnamese origin, to operate and invest in Belarus.

Deputy PM Anatoly Sivak,  for his part, reiterated Belarus’s recognition of Vietnam as a key partner in the region, stressing the need for enhanced collaboration between ministries and businesses to maximise trade and investment opportunities.