Vietnam is actively working to enhance its trade and investment ties with the Eurasian Economic Union (EAEU) and Egypt, focusing on expanding market access and bolstering economic partnerships. Vietnamese Vice President Võ Thị Ánh Xuân has emphasized the importance of leveraging the Vietnam-EAEU Free Trade Agreement to boost bilateral trade and investment. She suggested potential upgrades to the agreement and urged the EAEU to address existing trade barriers that impact Vietnamese exports such as textiles, footwear, and rice.
In discussions aimed at refining economic relations, both parties explored ways to improve trade data coordination, expedite meetings of their joint committee, and increase the usage of electronic certificates of origin. EAEU officials noted that bilateral trade has nearly doubled, highlighting the potential for further expansion in their economic relationship.
In a separate dialogue with Egyptian Deputy Prime Minister for Economic Affairs Hussein Mohamed Ahmed Eissa, Vice President Xuân advocated for enhanced high-level exchanges and deeper economic collaboration between Vietnam and Egypt. She pressed for advancements towards a Vietnam-Egypt free trade agreement, pinpointing sectors like agriculture, infrastructure, tourism, digital transformation, education, and renewable energy as promising areas for increased cooperation.
These discussions took place in Bishkek during Vietnam’s engagement in the Shanghai Cooperation Organisation Plus Summit. Vietnam’s participation in the summit underscores its efforts to fortify economic and diplomatic ties with regional partners, signaling a strategic push to broaden its international economic footprint.