Ulaanbaatar
Expansion of investment market and increase of business cooperation opportunities agreed
Economy
Ulaanbaatar/MONTSAME/. Mr. Narantsogt Sanjaa, the Vice
Minister of Economy and Development held a meeting with Mr.Tran Quok Khanh, the
Vice Minister of Industry and Trade of the Socialist Republic of Vietnam and
his delegation. During the meeting, parties exchanged views on overcoming the
obstacles related to global increase of food prices, current regional
situation, and transportation and logistics problems. Parties mutually agreed
on possible sectors to cooperate and increase import/export of strategically
important products.
From being food importing country, Vietnam has now become
the world’s 3rd largest rice exporter, fully self-sufficient in food and energy
supply, ranks in the top 20 in terms of export and import, and is one of the
few countries that continuously increased their turnover, keeping their
economic growth at 2 percent during the Covid-19 pandemic.
The parties agreed to expand the investment market and
increase business cooperation opportunities, to hold a tripartite meeting with
China to increase the volume and network of transit through the territory of
China, and to cooperate with regular communication between two ministries.
Furthermore, Vietnam party would share know-hows and experience of their
successful FTA negotiations in the region.
Source: Ministry of Economy and Development
