In a bid to enhance trade and investment ties, Vietnam is focusing on bolstering its economic relationships with the Eurasian Economic Union (EAEU) and Egypt. The primary aim is to expand market access and develop stronger economic partnerships. Vietnamese Vice President Võ Thị Ánh Xuân emphasized the importance of leveraging the Vietnam-EAEU Free Trade Agreement to boost bilateral trade and investment. She also suggested the possibility of upgrading this agreement and called on the EAEU to tackle existing trade barriers impacting Vietnamese products like textiles, footwear, and rice.
During discussions, both parties explored ways to improve coordination of trade data, expedite meetings of their joint committee, and increase the use of electronic certificates of origin. EAEU officials noted that bilateral trade had nearly doubled, pointing out further opportunities for collaboration and growth. These discussions took place against the backdrop of Vietnam’s active participation in the Shanghai Cooperation Organisation Plus Summit held in Bishkek, as the country seeks to strengthen its economic and diplomatic ties with regional partners.
In another significant meeting, Vice President Xuân met with Egyptian Deputy Prime Minister for Economic Affairs Hussein Mohamed Ahmed Eissa. She advocated for increased high-level exchanges and deeper economic collaboration between Vietnam and Egypt. Xuân also pushed for progress toward establishing a Vietnam-Egypt free trade agreement, identifying key sectors such as agriculture, infrastructure, tourism, digital transformation, education, and renewable energy as promising areas for expanded cooperation.
The meetings underscore Vietnam’s strategic efforts to diversify and deepen its international economic engagements. By focusing on regional partnerships, Hanoi aims to create more robust economic linkages that can support its long-term growth and development objectives. The discussions with both the EAEU and Egypt highlight Vietnam’s proactive approach to overcoming trade barriers and fostering mutually beneficial economic partnerships in a rapidly evolving global market.