Armenian Prime Minister Nikol Pashinyan (centre) speaks at the working session with Vietnamesebusinesses in Hanoi on July 6

The event was attended by representatives of theVietnam Chamber of Commerce and Industry (VCCI) and big enterprises in suchindustries as textile-garment, jewellery, and information technology.

The PM, who is on an official visit to Vietnam,said the investment climate in his country is improving in a way thatfacilitates businesses’ development, and there are almost no barriers toforeign investment attraction there.

Armenia is investing big in developinginformation and digital technology. It has also exported a number of high-techproducts in the agricultural and processing sectors, which are also the fieldsthe country wants to seek opportunities for investment cooperation, he noted.

PM Pashinyan said his country is looking for chancesfor investment and trade partnerships in certain aspects, includingtextile-garment, agricultural products, food, alcoholic beverages and driedfruit export, in which both countries have advantages and potential.

Armenia has signed free trade agreements withsome countries and territories. It is also a member of the Eurasian EconomicUnion and has made commitments with some other European countries in theprovision of tariff incentives, he added.

At the session, VCCI Chairman Vu Tien Loc voicedhis belief that there remains much potential for the two countries’ economicrelations.

He said Vietnam has demand for many commoditiesof Armenia’s strength like machinery, equipment and textile-garment materials.Meanwhile, it can also step up the export of aquatic products, farm produce,electronic devices and apparel to the European nation.

Echoing the view, Chairman of the VietnamTextile and Apparel Association (VITAS) Vu Duc Giang said there are numerouscooperation opportunities for Vietnamese textile-garment businesses andArmenian firms.

He elaborated that VITAS imports a large volumeof cotton, over 1.5 million tonnes each year, from foreign suppliers whileArmenia holds potential for producing this commodity. Therefore, this is anarea in which the two countries can work together in the future.

PM Pashinyan also showed his interest inVietnamese coffee products, noting that these might be potential products andif any Vietnamese companies wish, they could be assisted to develop theirmarket in Armenia.

Also on July 6, the visiting leader had ameeting with representatives of the Vietnam-Armenia Friendship Association andVietnamese people who once studied and worked in his country.

Parliamentary leader welcomes Armenian Prime Minister

The National Assembly (NA) of Vietnam is keen to enhance its ties with the Armenian parliament and always supports the cooperation between the two Governments, NA Chairwoman Nguyen Thi Kim Ngan told Armenian Prime Minister Nikol Pashinyan.

Ngan had a meeting in Hanoi on July 6 with the Armenian PM, who is paying an official visit to Vietnam.

The host leader congratulated Armenia on its enormous development attainments, improvement of people’s living standards and growing stature in the international arena.

She expressed her delight at the successful talks between the Armenian PM and his Vietnamese counterpart Nguyen Xuan Phuc, and learnt that the two sides reached consensus on orientations and measures for promoting bilateral cooperation in the time ahead.

PM Pashinyan informed his host that the second meeting of the Vietnam-Armenia Inter-governmental Committee and a business forum of the two countries will be held in Yerevan capital of Armenia in October this year.

Host and guest said their countries share a sound traditional friendship and have supported each other at international forums as well as the United Nations.

The Armenian PM highly valued Vietnam’s development achievements and growing prestige in the world, asking it to continue supporting his country at international forums, while Chairwoman Ngan said Vietnam always attaches importance to enhancing cooperation with traditional partners, including Armenia.

Although political and diplomatic relations between the two sides have been developing well, delegation exchanges remain modest and economic, trade and investment ties have yet to be on par with the cooperation potential, Ngan noted.

She expressed her hope that at the upcoming second meeting of the Inter-governmental Committee, solutions will be devised to strengthen connections in all fields, especially the exchange of all-level delegations to boost trade and investment partnerships.

The free trade agreement between Vietnam and the Eurasian Economic Union, of which Armenia is a member, has taken effect. The two countries have also set up an inter-governmental committee for cooperation in economy-trade and science-technique. Meanwhile, Vietnam and the European Union have also signed a free trade agreement.

Given these, Chairwoman Ngan asked the two countries to make the full use of the existing mechanisms to strengthen trade and investment links, thus helping to develop their economies.

At the meeting, PM Pashinyan said this Vietnam trip also seeks to reinforce parliamentary relations, conveying the Armenian NA President’s invitation to Ngan to visit the country, and expressing his belief that the enhancement of parliamentary ties will help foster the countries’ cooperation.

In response, the host leader affirmed that the Vietnamese NA will boost bilateral collaboration at regional and international forums, including the Inter-Parliamentary Union. It will also exchange opinions with the Armenian side about issues of common concern and interest.

Through PM Pashinyan, she offered thanks to the Armenian NA President’s invitation and also invited the country’s parliamentary leader to visit Vietnam in the near future. VNA