Vietnam, Venezuela beef up economic, trade cooperation
The Embassy of Vietnam in Venezuela together with the Venezuela-Vietnam Chamber of Commerce (CAVENVIET) organised a webinar on December 12 to launch an office to connect the two countries’ businesses and bolster bilateral trade and investment.
Ambassador Le Viet Duyen speaks at the online conference. (Photo: Vietnamese Embassy in Venezuela)
Caracas (VNA) -ꦬ The Embassy of Vietnamin Venezuela together with the Venezuela-Vietnam Chamber of Commerce (CAVENVIET)organised a webinar on December 10 to launch an office to connect the two countries’businesses and bolster bilateral trade and investment.
It will also mark the 31st anniversary ofVietnam-Venezuela diplomatic ties and help the countries promote each other’sadvantages.
෴ Addressing the event, Vietnamese Ambassador LeViet Duyen said the countries’ friendship and cooperation have been flourishing in allspheres after 31 years of diplomatic relations, with major achievements seen inpolitics, diplomacy, and culture.
Regarding economy and trade, Venezuela is a potential market that may help Vietnam reach its goal of expanding anddiversifying markets. Meanwhile, Venezuela boasts various famous products ofhigh quality that can satisfy market demand in Vietnam, he added. The diplomat underlined that Vietnam is capable ofmeeting Venezuela’s demand, especially for pharmaceuticals, garments and textiles,food, and consumer goods. For his part, CAVENVIET President Oswaldo Hernandezsaid Venezuela could be a supplier of machinery, electrical devices, biochemicalproducts, and wood and wooden products, which posted value of 4.7 million USDlast year. He also pledged that the agency will frequentlyupdate market information, policies, and regulations on investment to supportVietnamese firms and foster economic, trade, investment, and tourismcooperation in the time to come. Vietnam shipped goods worth about 9.11 million USDto Venezuela in the first nine months of this year. Two-way trade, however, remained modest compared to potential,standing at just 26.7 million USD in 2019./.
Vietnam and Venezuela need to strengthen people-to-people exchange and further tighten traditional friendship and solidarity between the two countries in the coming time, said President of the Vietnam Union of Friendship Organisations (VUFO) Nguyen Phuong Nga.
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Ambassador Le Viet Duyen speaks at the online conference. (Photo: Vietnamese Embassy in Venezuela) 
