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Vietnam, Turkey seek to boost trade, investment ties

Vietnam, Turkey seek to boost trade, investment ties

Monday, November 19, 2012, 21:35 GMT+7

Vietnamese and Turkish businesses gathered at a meeting held by the Vietnam Chamber of Commerce and Industry (VCCI) in Hanoi on November 19 aimed at helping popularise Vietnam’s law and regulations on economics.

Since its admission into the World Trade Organisation, Vietnam has become more attractive to foreign investors, with a clear and competitive business environment. International partners can also take advantage of the country’s favourable geographical location to expand economic ties with other Southeast Asian countries, said VCCI Secretary General Pham Thi Thu Hang.

At the event, representatives from two sides’ businesses exchanged information on cooperative potential as well as demand to expand their markets. Turkey ’s steel and mineral manufacturers said that they hope to access projects and find more information on import-export activities with Vietnamese partners.

Businesses also discussed cooperative potential in the fields of farm products, garments and textiles, and manufacturing lines of consumer products.

Two-way trade turnover between Vietnam and Turkey reached US$850 million in 2011, a year-on-year increase of 35 percent. In the first nine months of this year, the figure hit about $700 million.

Recently, the two sides established the Vietnam-Turkey Business Council to tighten economic relations and foster cooperative activities, especially in bilateral investment and trade in the time to come.

VNA

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