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Prime Minister Nguyen Xuan Phuc and State Counselor of Myanmar Aung San Suu Kyi review the guard of honour during a welcome ceremony for the Myanmar leader in Hanoi yesterday. --Photo VNA/VNS

Vietnam, Myanmar aim for US$1b in two-way trade

HANOI (Viet Nam News/ANN) -- Prime Minister Nguyen Xuan Phuc and State Counsellor of Myanmar Aung San Suu Kyi agreed to further deepen bilateral trade and investment to achieve the target.
Prime Minister Nguyen Xuan Phuc and State Counselor of Myanmar Aung San Suu Kyi agreed to further deepen bilateral trade and investment on a win-win basis in order to achieve two-way trade valued at US$1 billion or higher during their talks in Hanoi this week.
The talks took place right after the welcome ceremony the same day. The Vietnamese PM expressed his support for Myanmar during its national reconciliation and construction.
Aung San Suu Kyi congratulated Vietnam on obtaining important achievements over the past 30 years of renovation, especially in ensuring social welfare and sustainable development.
Both sides shared the view that the upgrade of bilateral ties to a comprehensive strategic partnership during the visit to Myanmar by Party General Secretary Nguyen Phu Trong in August 2017 has opened up a new chapter in bilateral ties. Political, national defence-security and economic-trade-investment ties have been growing. Vietnam is now the ninth-largest trade partner and the seventh-largest foreign investor of Myanmar.
They vowed to further boost political and diplomatic collaboration through all-level visits through the Party, Government, State and National Assembly channels and people-to-people exchange, accelerate the organisation of the ninth Vietnam – Myanmar Joint Commission and quickly approve the Action Programme to realise the bilateral comprehensive strategic partnership for 2018-2023.
Speaking highly of Vietnam’s projects in Myanmar and the PM’s sharing of experience in renovation and economic integration, the guest said Myanmar would build trade and investment policies to create favourable conditions for foreign investors, including those from Vietnam.
Host and guest extolled the development of co-operation in defence-security. They pledged to extend collaboration into training, military medicine, search and rescue and athletic exchange. They agreed to hold the deputy ministerial-level defence policy dialogue in 2018 as well as step up negotiations to sign the agreement on anti-crime and others such as the Agreement on Extradition and Agreement on the Transfer of Sentenced Persons.
The two leaders expressed their wish to further uphold other important co-operation fields, including finance, telecommunications, energy, agro-forestry-fisheries and people-to-people exchange.
They welcomed the strengthening of coordination across transport, tourism, justice, education and culture and agreed to sign deals that lay the legal foundation for specific fields.
On regional and global issues of shared concern, they pledged to work closely together at forums such as Asean, the Non-Aligned Movement and the United Nations. They also agreed to jointly work to successfully build the Asean Community.
PM Phuc expressed his support for Myanmar’s bid for official membership in the Mekong River Commission.


(Latest Update April 21, 2018)

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