Thang made the statement at the eighth meeting of the Vietnam - Uzbekistan Intergovernmental Committee for Economic-Trade and Scientific-Technological cooperation, held in Hanoi on December 24.
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An overview of the meeting |
At the meeting, Uzbek Deputy Minister of Investment, Industry and Trade Ilzat Kasimov stressed that Uzbekistan always considers Vietnam an important priority partner in the region. He underlined the need to strengthen coordination among ministries and sectors of both countries through the Intergovernmental Committee, thereby helping businesses better tap the potential and advantages of each side.
Uzbekistan committed to creating favorable conditions for Vietnamese enterprises to invest and operate in the country, and proposed establishing a joint working group on trade within the framework of the Intergovernmental Committee to further promote bilateral trade growth.
The two sides reviewed the current state of cooperation and assessed advantages, difficulties, opportunities and challenges in key areas. Delegates noted that Vietnam and Uzbekistan still hold considerable potential for cooperation in agriculture, agro-processing, light industry, automobile manufacturing, transport, logistics, construction, tourism and culture. They also highlighted the complementary nature of the two economies, which facilitates cooperation in building supply chains from production and processing to exports, serving international markets.
Based on these discussions, agencies and enterprises of both sides pledged to continue close coordination to translate commitments into concrete and practical cooperation projects.
According to the Vietnamese Department of Customs, bilateral trade reached 202 million USD in 2024, the highest level so far, up 26.5% year-on-year. Vietnam’s exports stood at 128.61 million USD, up 75%, while imports totaled 73.38 million USD, down 14.9%.
Uzbekistan is currently Vietnam’s second-largest trading partner in Central Asia, while Vietnam is Uzbekistan’s largest trading partner in the Association of Southeast Asian Nations (ASEAN). Vietnam’s main exports to Uzbekistan include phones and components, computers, electronic products and components, machinery and equipment, rubber products, cashew nuts, and automobile components.
Meanwhile, Vietnam mainly imports fertilizers, textile and garment materials, leather and footwear materials, and cotton from Uzbekistan. In terms of investment, Vietnam currently has five projects in Uzbekistan, with total registered capital of about 4.43 million USD.
Source: VNA