Mr. Narantsogt Sanjaa, the Vice Minister of Economy and Development held a meeting with Mr.Tran Quok Khanh, the Vice Minister of Industry and Trade of the Socialist Republic of Vietnam and his delegation. During the meeting, parties exchanged views on overcoming the obstacles related to global increase of food prices, current regional situation, transportation and logistics problems. Parties mutually agreed on possible sectors to cooperate and increase import/export of strategically important products.
From being food importing country, Vietnam has now become the world’s 3rd largest rice exporter, fully self-sufficient in food and energy supply, ranks in the top 20 in terms of export and import, and is one of the few countries that continuously increased their turnover, keeping their economic growth at 2 percent during the Covid-19 pandemic.
The parties agreed to expand the investment market and increase business cooperation opportunities, to hold a tripartite meeting with China to increase the volume and network of transit through the territory of China, and to cooperate with regular communication between two ministries. Furthermore, Vietnam party would share know-hows and experience of their successful FTA negotiations in the region.
