Saudi-Vietnam trade exchange hits SR8 billion as bilateral relations grow

April 08, 2021

Saudi Gazette report

RIYADH — There has been a remarkable development in trade exchange between Saudi Arabia and Vietnam over the last two years, with a volume of more than SR8 billion ($2.13 billion).

This was revealed as the Saudi-Vietnamese Joint Committee held a virtual meeting in its fourth session on Wednesday.

The meeting was co-chaired Deputy Minister at the Ministry of Economy and Planning for International Economic Affairs Bandar Al-Khamis, and on the Vietnamese side, Deputy Minister of Industry and Trade Cao Quoc Hung, in the presence of the Saudi Ambassador to Vietnam Saud Al-Suwailem and the Vietnamese Ambassador to Saudi Arabia Vu Viet Dung.

The meeting touched on the economic and social highlights and investment opportunities between the two countries and the cooperation in the field of health care and reviewed the achievements made under the umbrella of the committee's work, including the air services agreement that enabled the opening of air space between the two countries.

A memorandum of understanding was recently signed between the Saudi Press Agency(SPA) and Vietnam News Agency (VNA), which included strengthening cooperation and news exchange between the two agencies and using information services.

The two sides agreed to continue work in the fields that enhance bilateral cooperation between the two countries, including the fields of foreign relations, trade, water, energy, industry, agriculture, investment, finance, development support, work, education, human resource development, media, culture, sports, tourism, defense, security, science, technology, and innovation.

Saudi-Vietnamese Joint Committee was launched in 2006 and it aims to discuss ways of cooperation in many areas that contribute to the development of the two countries.

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