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Vietnam, Uganda agree to prioritise trade, investment ties

Prime Minister Pham Minh Chinh suggested Vietnam and Uganda bring economic cooperation on par with their fine political ties and potential, at a reception for Ugandan President Yoweri Kaguta Museveni in Hanoi on November 24.
Vietnam, Uganda agree to prioritise trade, investment ties ảnh 1Prime Minister Pham Minh Chinh (R) and Ugandan President Yoweri Kaguta Museveni. (Photo: VNA)
Hanoi (VNA) – Prime Minister Pham MinhChinh suggested Vietnam and Uganda bring economic cooperation on par with theirfine political ties and potential, at a reception for Ugandan President YoweriKaguta Museveni in Hanoi on November 24.

The PM congratulated Uganda on its achievements inpolitics, socio-economic development, and disease prevention and control, andlauded the country’s contributions at important multilateral mechanisms such asthe United Nations, the Non-Aligned Movement (NAM), and the African Alliance.

He also briefed the guest on Vietnam’s orientationsand results in socio-economic recovery and development.

The leaders stressed that the two countries shouldclosely coordinate to deepen their relations in a pragmatic and effectivemanner, saying the exchange of delegations, especially at the high level, wouldhelp enhance mutual understanding and political trust.

He suggested the two countries continue their mutualsupport at multilateral forums, especially at the time when Uganda assumes theNAM Chairmanship for 2023-2026.

To boost the economic ties, Vietnam and Uganda needto step up trade and investment promotion activities, thereby facilitating thepenetration of goods into the East African market and the Association ofSoutheast Asian Nations (ASEAN) as well, the PM continued.

The leader spoke highly of the initial results inthe bilateral investment ties, especially in mining and construction with atotal capital of nearly 40 million USD, and urged the two sides to intensifythe sharing of information about investment capacity, environment andopportunities.

Agriculture should be a key cooperation area inorder to contribute to ensuring food security in each nation, he said, suggestingstronger collaboration in education-training, information-communications,national defence and security and tourism, as well as partnerships in otherspheres like oil and gas, health care, culture and sports.

For his part, Museveni expressed his impression onVietnam’s socio-economic achievements over the past time, and praised its roleat multilateral forums, particularly the UN.

The President noted his belief that Vietnam willsuccessfully perform its membership at the UN Human Rights Council for2023-2025, significantly contributing to peace and development and ensuringhuman rights.
Vietnam, Uganda agree to prioritise trade, investment ties ảnh 2At the meeting between the leaders. (Photo: VNA)
Uganda always attaches importance to the goodfriendship with Vietnam, he said, sharing PM Chinh’s views on cooperationorientations, with trade, investment and agriculture to be the core.

Host and guest agreed to create a legal framework for investment and trade activitiesthrough the negotiations and signing of free trade agreements, and those ondouble taxation avoidance.

They shared the view that disputes should be settledby peaceful measures in line with international law, thus ensuring security,safety and freedom of navigation and aviation./.
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