5:13 pm - Monday April 18, 1949

Bangladesh-Vietnam talk trade ties

They vowed to lift bilateral trade to 1 billion USD by 2016 from 800 million USD in 2014; convene the third meeting of the Joint Committee on Economic, Trade, Cultural, Scientific and Technological Cooperation soon; and launch a policy consultation mechanism between the two Foreign Ministries.

They agreed to effectively realise a memorandum of understanding (MoU) on agriculture, fisheries and animal livestock and another MoU on rice trade.

An agreement on tourism cooperation and cultural exchange is also expected to be signed in the foreseeable future.

bd-vietnamSharing Vietnam and ASEAN’s deep concern over recent developments in the East Sea, the Bangladeshi President underscored the need to ensure peace, stability, security and maritime and aviation safety and freedom as well as the settlement of maritime disputes in line with international law, especially the 1982 United Nations Convention on the Law of the Sea.

They concurred on the necessity of the full implementation of the Declaration on the Conduct of Parties in the East Sea (DOC) towards a consensus on a Code of Conduct in the East Sea (COC).

On the occasion, the guest also invited the Vietnamese leader to visit Bangladesh.

The PM accepted the invitation with pleasure and the timing of the visit will be arranged via diplomatic channels.

Party chief receives Bangladeshi President

Party General Secretary Nguyen Phu Trong proposed Vietnam and Bangladesh enhance cooperation in various fields while receiving Bangladeshi President Abdul Hamid in Hanoi on August 10.

The Party chief welcomed President Abdul Hamid’s official State-level visit to Vietnam and described it as a vivid illustration of traditional friendship and multi-faceted cooperation between the two countries, which have been reinforced over the past four decades since the establishment of diplomatic ties in 1973.

He said the Vietnamese Party and State attach great importance to cooperation with traditional friends, including Bangladesh, and suggested increasing cooperation between the two ruling parties and parliaments, specifically in people-to-people exchanges, national defence and security, economics-trade-investment, science-technology, culture and tourism.

He welcomed the outcomes of the talks and meetings between the Bangladeshi President and State President Truong Tan Sang and other top Vietnamese leaders.

The Party leader proposed both nations increase mutual support at regional and international forums, especially at the United Nations, the Non-Aligned Movement and the Asia-Europe Meeting.

He said he hopes the Bangladeshi President’s visit to Vietnam will help stimulate friendship and cooperation development between the two countries to mutually benefit the two peoples and for peace, stability, cooperation and development in the region and beyond.

For his part, President Abdul Hamid said he admired the significant socio-economic achievements of Vietnam and hoped to boost friendship and cooperation with the country in various fields, including increasing all-level delegation exchanges, economics and trade.

He agreed to enhance mutual support at regional and international forums, especially at the United Nations, adding that Bangladesh is willing to share experience with Vietnam in joining UN peacekeeping activities.

Myriad of cooperation attainments await Vietnam, Bangladesh: leaders

Substantial room remains for Vietnam and Bangladesh to cooperate towards a myriad of achievements, especially in economics-trade, State President Truong Tan Sang and Bangladeshi President Abdul Hamid have said.

During their talks in Hanoi on August 10, they rejoiced at the sound development of the countries’ traditional amity and multifaceted cooperation since the establishment of their relations in 1973, affirming the resolve to bring bilateral ties to a new level.

The two sides have maintained all-level delegation exchanges and signed a number of cooperation agreements on economics, trade, investment, culture, agriculture, science-technology and aviation. Notably, their trade leapt 2.5 times from 288 million USD in 2010 to almost 800 million USD in 2014, the leaders noted.

Bangladesh, the youngest nation in the South Asian region, has shared its expertise in joining United Nations peacekeeping forces with Vietnam and coordinated in trans-national crime prevention.

The two countries have also worked closely at regional and international forums, including with UN agencies. In 2012, Bangladesh recognised Vietnam’s full market economy.

At the talks, the leaders agreed to expand bilateral cooperation to potential areas with a focus on politics, defence-security, economics-trade, agri-aquaculture, science-technology, culture and tourism. They also concurred to increase all-level visits, people-to-people exchanges and policy consultations and dialogues.

Vietnam and Bangladesh will work together to shortly organise the third meeting of the joint committee on economic, trade, cultural and scientific-technological cooperation and the first political consultation between the two foreign ministries. They will also consider signing cooperation agreements in advantageous fields.

The two sides said their defence-security partnership needs to be reinforced through mutual visits, joint personnel training and sharing information about transnational crime and illegal migration prevention and participation in UN peacekeeping activities.

Host and guest highlighted the annual 40 percent growth in bilateral trade to reach 800 million USD last year.

They elaborated that Bangladesh’s population is double that of Vietnam while the scale and development level of the economies are equal, their geographical locations are not too far and consumption demand is in line with their supply capacity. Therefore, Bangladesh is a potential market for Vietnamese companies to boost their exports to and investments in.

At the talks, the Presidents targeted to reach 1 billion USD in bilateral trade in 2016, achieved through facilitating companies’ contacts, information sharing and business opportunity seeking.

They have asked their ministries of agriculture to actively implement the memorandum of understanding (MoU) on fishery and livestock cooperation and the MoU on agricultural cooperation signed in 2012. The countries will tighten linkages in sustainable agricultural and aquacultural development, efforts to adapt to climate change and prevent the imposition of anti-dumping duties on their aquatic products.

Vietnam and Bangladesh will widen their cooperation to other potential realms such as garment-textiles, mining, energy, chemistry, machinery, consumer goods production, food processing, steel manufacturing, construction and telecommunications.

The leaders were unanimous in maintaining the sound cooperation and mutual support at regional and international forums, especially of the UN, Non-Aligned Movement, South-South Cooperation, ASEAN Regional Forum and Asia-Europe Meeting.

Vietnam will consider advocating Bangladesh become a dialogue partner of ASEAN and support Bangladesh’s further substantive affiliation with the bloc.

Touching upon regional and international issues of mutual interest, President Truong Tan Sang voiced concerns over recent developments in the East Sea and renewed Vietnam’s stance on maintaining peace, stability, security and marine and aviation safety and freedom in the region; peacefully settling disputes on the basis of international laws—including the 1982 UN Convention of the Law of the Sea; not using force or threatening to use force; fully implementing the Declaration on the Conduct of Parties in the East Sea (DOC); and working to expeditiously complete a code of conduct in the waters (COC).

President Abdul Hamid said regional and global peace and stability is crucial to cooperation and development and that all countries must respect basic internationally-recognised principles and promote dialogues to peacefully resolve all disputes and ensure maritime safety and freedom.

Chief legislator welcomes Bangladeshi President

National Assembly Chairman Nguyen Sinh Hung welcomed Bangladeshi President Abdul Hamid in Hanoi on August 10, describing the latter’s State visit to Vietnam as a landmark in the countries’ traditional cooperation and amity.

The Vietnamese leader said he hopes the two peoples will continue to comprehensively boost their cooperation and promote existing affiliation mechanisms, including between the two legislative bodies.

Through the determination of the countries’ leaders and peoples, they will devise major cooperation orientations to create new momentum for bilateral ties, he added.

Noting a number of similarities between the nations, President Abdul Hamid said Bangladesh continually advocated for Vietnam in the past struggle for national independence and the current development cause.

Bangladesh wishes to intensify its collaboration with Vietnam for the sake of their mutual interests as well as peace and development, he stressed.

At the meeting, the two sides also briefed each other on their parliaments’ activities and agreed to support the expansion of cooperation between the legislative bodies and parliamentarians both bilaterally and multilaterally, especially at regional and global parliamentary forums like the Inter-Parliamentary Union Assembly.

The Vietnamese and Bangladeshi parliaments will also enhance legislative and supervisory experience exchanges to help nurture affiliation and friendship between the two peoples, they said.