Bangladesh invites Vietnam for exploring joint venture opportunities

Bangladesh has invited Vietnam to explore investment opportunities, particularly through joint ventures.

State Minister for Foreign Affairs Md Shahriar Alam emphasised the need for more business-to-business contact between the countries when visiting Vietnam Vice-Minister for Foreign Affairs Dang Dinh Quy met him on Sunday, the foreign ministry said.

Dinh Quy is leading a Vietnam delegation for the first ‘Foreign Office Consultation’.

Alam highlighted “longstanding friendship and goodwill” between the two countries and stressed the need for more exchange of visits at high political level.

He praised Vietnam for "remarkable economic development" in the last decade and put stress on “intensifying” trade and investment between the countries.

He sought Vietnam’s cooperation in the agriculture and fisheries sector.

Alam also asked for Vietnam’s support for Bangladesh’s desire to become a ‘sectoral dialogue partner’ of ASEAN.

The foreign ministry said the visiting minister emphasised materialising the existing potentials of greater trade and investment between Bangladesh and Vietnam.

He conveyed Vietnam’s interest to enhance bilateral trade and suggested the investors of Vietnam and Bangladesh to go for exploring investment opportunities in both the countries.

First foreign office consultation

Later, Foreign Secretary Md Shahidul Haque headed the Bangladesh delegation while Dinh Quy led his side in the first-ever foreign office consultation held at the state guest house Meghna.

Bilateral trade received a major focus in the consultation, the foreign ministry said.

Bangladesh flagged the need to find ways to address the trade deficit that favours Vietnam.

It has asked Vietnam to consider relaxing the registration process and accepting the bio-equivalence and traceability tests done in other ASEAN countries which will make Bangladesh’s pharmaceutical products available in Vietnam at a competitive price and help in reducing the trade gap.

Both the countries agreed to work closely to achieve the target of enhancing bilateral trade volume to $1 billion.

Vietnam expressed interest to boost bilateral trade volume and facilitate investment in both countries.

Dhaka sought Hanoi's cooperation in shipbuilding and shipbreaking sectors. The southeast Asian country expressed willingness to boost bilateral cooperation in the education and tourism sectors.

The government urged Vietnam to ease the visa process for the Bangladeshi businessmen and tourists.

Bangladesh also sought Vietnam’s support for Bangladesh’s initiative to become a “Sectoral Dialogue Partner” of ASEAN and also to join the Mekong-Ganga Cooperation (MGC) initiative.

Vietnam welcomed Bangladesh’s interest to build institutional relations with the ASEAN as Sectoral Dialogue Partner and join the Mekong-Ganga Cooperation (MGC) initiative and agreed to facilitate Bangladesh’s initiatives.

Earlier on Saturday, the visiting minister visited the Bangabandhu Memorial Museum at Dhanmondi to pay respect to the Father of the Nation Bangabandhu Sheikh Mujibur Rahman. He is scheduled to leave Dhaka Monday.