Vietnam and Bangladesh have pledged to double two-way trade to US$2 billion by 2020 after Vietnamese State President Tran Dai Quang met with Prime Minister of Bangladesh Sheikh Hasina during the former’s state visit to the South Asian country.

The leaders held talks in Dhaka on Monday, the second day of President Quang’s three-day stay in Bangladesh from March 4 to 6 to strengthen bilateral cooperation in areas of mutual benefit.

As countries that sit at the gateway to their respective regions and possess huge labor forces that are young and dynamic, both Vietnam and Bangladesh are capable of bringing into full play their advantages for better cooperation results, the leaders stressed.

President Quang and PM Hasina expressed confidence in the recent growth of bilateral trade, which stood at nearly $900 million in 2017, and hoped that both sides could work to double this number to $2 billion by 2020.

The Bangladeshi head of government believed President Quang’s visit on the 45th anniversary of diplomatic ties would open up more opportunities to raise bilateral ties to a new height.

Cooperation potentialities in garment and textiles, leather products, food processing and pharmaceuticals were discussed at length, while the prospect of opening a direct air route between Vietnam and Bangladesh was also on the table.

Vietnamese State president Tran Dai Quang (L) walks alongside Bangladeshi President Mohammad Abdul Hamid after landing in Dhaka, Bangladesh, March 4, 2018. Photo: Vietnam News Agency

The leaders reached a consensus on strengthening collaboration in defense, security, education, tourism, culture and people-to-people diplomacy.

They agreed that Vietnam and Bangladesh would remain good friends and partners at regional and international forums, including the United Nations, Non-Aligned Movement, ASEAN Region Forum, and Asia-Europe Meeting (ASEM).

President Quang also extended a formal invitation to PM Hasina to pay an official visit to Vietnam at a fitting time.

Signing ceremonies for cooperative documents, including a memorandum of understanding on aquaculture and husbandry cooperation and an agreement on cultural exchange programs, were held under the leaders’ oversight after the conclusion of their talks.

President Quang landed in Dhaka, Bangladesh on Sunday to kick off his three-day state visit to the South Asian country at the invitation of Bangladeshi President Mohammad Abdul Hamid.

The visit is part of the Vietnamese state president’s South Asia trip, where he also visited India.

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