Vietnam and Uruguay will work for the early establishment of a joint committee on economic, trade and investment cooperation in accordance with the Framework Agreement on Trade and Investment that took effect in April 2016. 



Deputy Prime Minister and Foreign Minister Pham Binh Minh (R) and Uruguayan Foreign Minister Rodolfo Nin Novoa


The agreement was reached during talks between Deputy Prime Minister and Foreign Minister Pham Binh Minh and Uruguayan Foreign Minister Rodolfo Nin Novoa in Hanoi on October 21, during the latter’s official visit to Vietnam. 

Deputy PM Minh hailed Uruguay’s opening of an embassy in Hanoi and appointment of its ambassador to Vietnam, which he said contributed to developing bilateral ties over the past time. 

The Uruguayan FM affirmed that Uruguay is pursuing the policy of diversifying ties, and considering Vietnam one of leading partners in Asia-Pacific. 

Host and guest expressed their pleasure with the positive development of cooperation across the fields, evidenced by regular visits at all levels. The two countries have signed a number of important cooperation agreements on agriculture, agro-fisheries processing, information and biological technology, and climate change mitigation. 

In order to push forward the practical and effective ties, they agreed to maintain the regular political consultation mechanism at deputy foreign ministerial-level. 

Both sides agreed to hasten negotiations to sign agreements on customs, animal and plant quarantine and other specific areas, making it easier for their business communities to access each other’s market and seek partners. 

They pledged to help each other to export goods to the Southern Common Market (MERCOSUR) and ASEAN, as well as intensify bilateral links across culture, training, tourism and sports through specific projects and programmes. 

The two FMs spoke highly of mutual liaison at international organisations and multilateral forums. 

On the occasion, Minh expressed his thanks to the Uruguayan government for backing Vietnam’s bid to become a non-permanent member of the UN Security Council for 2020-2021 tenure and for recognising Vietnam as a market economy. 

He wished that the two countries would increase the sharing of experience in joining multilateral mechanisms, the UN peacekeeping force, and bilateral and multilateral economic-trade negotiations. 

On regional and global issues of shared concern, they promised to promote coordination between ASEAN and MERCOSUR, and other inter-regional cooperation mechanisms. 

As regards the East Sea issue, they shared the stance on the settlement of sovereignty disputes by peaceful means, refraining from the use of force or threat to use force, respecting diplomatic and legal process in line with international law, especially the 1982 United Nations Convention on the Law of the Sea.

Prime Minister supports FTA with Uruguay

Prime Minister Nguyen Xuan Phuc said he welcomes Uruguay’s proposal for a free trade agreement (FTA) with Vietnam during his meeting with visiting Foreign Minister of Uruguay Rodolfo Nin Novoa in Hanoi on October 21.

PM Phuc said Vietnam-Uruguay bilateral trade, while remaining modest in value, has recorded rapid growth, adding that relevant ministries and agencies of both sides should research and work out measures to increase two-way trade value.

The PM affirmed that Vietnam always hopes to promote its friendship and multi-faceted cooperation with Uruguay, suggesting that the two countries maintain the exchange of delegations at all levels to enhance mutual understanding and discuss measures to strengthen bilateral relations.

He noted that the two governments need to implement signed agreements, and promptly establish a joint committee for economic, trade and investment cooperation in line with their framework agreement on trade and investment that took effect in April 2016.

The PM also said the two sides should work together to complete a legal framework for bilateral collaboration while encouraging their business communities to seek opportunities in each other’s market and form direct partnerships.

According to him, Vietnam is an open market with many opportunities for foreign investors, particularly when the country officially joins the Trans-Pacific Partnership deal.

Vietnam is also willing to serve as the gateway to ASEAN for enterprises from Uruguay, Phuc affirmed.

For his part, Minister Rodolfo Nin Novoa said Uruguay wishes to deepen trade ties with Southeast Asian countries, particularly Vietnam which has a good economic growth and great development potentials.

He hoped the two countries will soon sign a free trade pact to boost trade and investment ties.

The minister asked the Vietnamese government to further facilitate the import of goods from Uruguay, especially beef and fruit, adding that Uruguay has begun to import more goods from Vietnam.

He suggested Vietnam send athletes to Uruguay for training while Uruguay can send its football team to Vietnam to boost bilateral cooperation on sports.

The minister also expressed hope that PM Nguyen Xuan Phuc will visit his country in the coming time.

VNA