Headliners

Vietnam-Bolivia Promote Economic and Trade Cooperation

29/05/2015

Although Vietnam and Bolivia have fine traditional relations and a great potential for economic cooperation, the bilateral cooperation on economics, trade and investment is still modest and the two way trade turnover is less than 10 million dollars/year. Therefore, during the official visit to Bolivia by Vietnamese Vice State President Nguyen Thi Doan from May 18-19, 2015, the two countries’ leaders discussed and agreed on many measures to further promote cooperation in these areas.

During their talks, Bolivian Deputy Vice President Alvaro Garcia Linera highly appreciated this visit and considered it an important landmark, creating a new impetus for the development of the friendly relationship and multi-faceted cooperation between the two countries.

Recalling his impressions on his visit to Vietnam in September 2012, Bolivian Deputy Vice President A.G Linera expressed his admiration for Vietnam’s achievements during the Doi moi and the glorious history for national protection and construction. He affirmed that Bolivia always regards Vietnam a bright example and wants to continue further promoting cooperation for mutual benefit.

Vice State President Nguyen Thi Doan congratulated the Bolivian Government and its people on great economic-social achievements over the decade and asserted that Vietnam always pays much attention to developing and expanding cooperation with friendly countries in Latin America, including Bolivia.

Bolivian Vice State President Alvaro Garcia Linera receives and has talks with
his Vietnamese counterpart Nguyen Thi Doan.Photo: Thong Nhat/VNA

Bolivian Vice State President Alvaro Garcia Linera and his Vietnamese counterpart Nguyen Thi Doan and delegates
pose for a photo. Photo: Thong Nhat/VNA

The two leaders agreed that Vietnam and Bolivia share many similarities in both historical tradition and policies for national development and the bilateral relations in recent years have seen a growing development, particularly in politics and diplomacy, which are shown through achievements during visits of the two countries’ leaders as well as coordination and cooperation at international organisations. However, economic and trade cooperation and bilateral investment is still modest compared with the potential of the two countries and the two-way trade turnover is less than 10 million dollars/year.

The two leaders agreed that in the future the two sides should actively promote the implementation of concrete measures, such as speeding up negotiations to sign cooperative documents to step by step complete the legal framework for bilateral cooperation, especially in economics, trade and investment; activating cooperation mechanisms which were established, including the join committee on trade and investment, to define and promote cooperation in areas and feasible and effective projects, suitable to potentials and strengths of each side. The two country’s governments will support and create favourable conditions for enterprises of both sides to access and penetrate the market of the other, establish a relationship and cooperation suitable to the two country’s policies and laws, especially in the fields of energy, oil and gas, telecommunications and agriculture.

Regarding multilateral cooperation, the two sides reached a consensus on strengthening coordination and cooperation at international organizations, such as the UN; sharing viewpoints on resolving sovereignty disputes through negotiations and dialogues in line with international law, and non use or the threat of use of forces.

On this occasion, Vice State President Nguyen Thi Doan meets with Bolivian President Evo Morales, the President of the Bolivian Senate President Jose Alberto Gonzalez and President of the House of Representatives Gabriela Montano Gonzalo.