Vietnam expects stronger economic links with Saudi Arabia

Prime Minister Pham Minh Chinh hosted a reception in Hanoi on March 29 for Saudi Arabian Ambassador to Vietnam Mohammed Ismaeil A. Dahlwy who paid a courtesy visit.

At the meeting, on the occasion of the Muslim festival of Ramadan, Prime Minister Pham Minh Chinh wished the Ambassado, his Saudi Arabian friends in Vietnam, King Mohamed Bin Abdulaziz Bin Salman, Crown Prince and Prime Minister Mohamed Bin Salman and peace and happiness.

The Vietnamese cabinet leader hailed the Ambassador's efforts to strengthen the friendship and cooperative relations between the two countries over the past time, while believing that with his experience and dynamism, the Ambassador will continue to make greater contributions to advancing the two countries' relations for further development.

The Vietnamese Government will direct the Vietnamese relevant agencies to coordinate and support the Ambassador in fulfill his duties, he added.

In pursuit of the foreign policy of independence, self-reliance, diversification, multilateralization, being a good friend, a reliable partner and a responsible member of the international community, Vietnam is interested in and wishes to strengthen cooperation with Middle East countries, including Saudi Arabia, which is a big country with a role in the region.

PM Chinh applauded the achievements the Saudi people recorded in national construction and development under the leadership of King Mohamed Bin Abdulaziz Bin Salman and Crown Prince and Prime Minister Mohamed Bin Salman, which has contributed to realizing the "Vision 2030" goal and affirming the important role and position of Saudi Arabia in the region and in the world.

Ambassador Mohammed Ismaeil A. Dahlwy said he has witnessed Vietnam's tremendous achievements in the context of complicated and difficult developments globally

Furthermore, the relationship between the two countries has been increasingly consolidated and strengthened on the basis of mutual respect and mutual support in regional and international issues, he said while expressing his confidence that the cooperation between the two countries will be further enhanced in the time ahead.

PM Pham Minh Chinh and Ambassador Mohammed Ismaeil A. Dahlwy highly appreciated the positive developments in bilateral cooperation over the past time.

Saudi Arabia is currently one of Vietnam's leading economic partners in the Middle East, with two-way trade turnover in 2022 reaching US$2.7 billion, up 32.4% on-year.

Chinh also highlighted huge potential for cooperation between the two countries, especially in economy, trade and investment.

The Vietnamese Government chief said that Vietnam is building an independent and self-reliant economy associated with proactive extensive, substantive and effective international integration.

He suggested the two sides need to coordinate more closely to bring the multifaceted cooperation between the two countries into depth, substance and effectiveness.

Accordingly, both sides should continue to consolidate political trust, boost closer coordination in launching a broad array of exchange activities of delegations at all levels, especially high-level ones, further promote the role of bilateral cooperation mechanisms, and soon organize the 5th meeting of the Vietnam - Saudi Arabia Intergovernmental Committee in 2023.

He also suggested that Saudi Arabia, with its role and influence, support Vietnam in soon finalizing procedures for signing a Memorandum of Understanding with the Secretariat of the Gulf Cooperation Council (GCC).

Chinh asked the two sides create favorable conditions for exports to each other's markets, and wished that Saudi Arabia would facilitate the import of Vietnam's strong commodities that Saudi Arabia is in demand, such as rice, tea, pepper, coffee, rubber, garments and textiles.

He proposed the Middle East nation completely lift the ban on importing seafood from Vietnam imposed from January 2018 and help Vietnam develop the Halal industry and access the markets of Saudi Arabia and Muslim countries.

PM Chinh affirmed that Vietnam welcomes and is ready to offer favorable conditions for the operation of investment funds and Saudi Arabia's groups in Vietnam.

He suggested that the two sides soon sign an agreement on investment promotion and protection in order to create a legal framework and favorable investment environment for investment cooperation between the two countries.

Ambassador of Saudi Arabia to Vietnam Mohammed Ismaeil A. Dahlwy agreed with the proposals put forth by Prime Minister Pham Minh Chinh, adding that the Saudi side is making efforts to coordinate with Vietnamese agencies to implement specific areas of cooperation.

They include promoting the exchange of high-level delegations between the two countries, accelerating the implementation of signed agreements and conducting negotiations to sign more cooperation agreements between the two nations, including cooperation in developing the Halal food industry.

At the request of Ambassador Mohammed Ismaeil A. Dahlwy on visa policy for Saudi citizens, PM Chinh said that the Vietnamese Government, relevant are studying and adjusting regulations. The Vietnamese National Assembly will consider this issue in the near future toward facilitating foreigners' entry and exit into Vietnam.

Regarding cooperation at multilateral and regional forums, PM Pham Minh Chinh and the Saudi Arabian Ambassador applauded the coordination and mutual support between the two countries.

Vietnam is willing to support Saudi Arabia to bolster cooperation with ASEAN as well as cooperation between ASEAN and the Gulf Cooperation Council, in line with potential and strengths of each side and on the principle of mutually beneficial cooperation, he told his guest.

He said he hopes that Saudi Arabia will continue to support the stances of ASEAN and Vietnam in peacefully resolving disputes in the East Sea, ensuring freedom of aviation and navigation in the East Sea, for peace, stability, cooperation and development. development in the region and the world.