Prime Minister supports FTA with Uruguay

Prime Minister (PM) Nguyen Xuan Phuc said he welcomes Uruguay’s proposal for a free trade agreement (FTA) with Vietnam during his meeting with visiting Foreign Minister of Uruguay Rodolfo Nin Novoa in Hanoi on October 21.

PM Phuc said Vietnam-Uruguay bilateral trade, while remaining modest in value, has recorded rapid growth, adding that relevant ministries and agencies of both sides should research and work out measures to increase two-way trade value.

The PM affirmed that Vietnam always hopes to promote its friendship and multi-faceted cooperation with Uruguay, suggesting that the two countries maintain the exchange of delegations at all levels to enhance mutual understanding and discuss measures to strengthen bilateral relations.

Prime Minister Nguyen Xuan Phuc (R) and Foreign Minister of Uruguay Rodolfo Nin Novoa

He noted that the two governments need to implement signed agreements, and promptly establish a joint committee for economic, trade and investment cooperation in line with their framework agreement on trade and investment that took effect in April 2016.

The PM also said the two sides should work together to complete a legal framework for bilateral collaboration while encouraging their business communities to seek opportunities in each other’s market and form direct partnerships.

According to him, Vietnam is an open market with many opportunities for foreign investors, particularly when the country officially joins the Trans-Pacific Partnership deal.

Vietnam is also willing to serve as the gateway to ASEAN for enterprises from Uruguay, Phuc affirmed.

For his part, Minister Rodolfo Nin Novoa said Uruguay wishes to deepen trade ties with Southeast Asian countries, particularly Vietnam which has a good economic growth and great development potentials.

He hoped the two countries will soon sign a free trade pact to boost trade and investment ties.

The minister asked the Vietnamese government to further facilitate the import of goods from Uruguay, especially beef and fruit, adding that Uruguay has begun to import more goods from Vietnam.

He suggested Vietnam send athletes to Uruguay for training while Uruguay can send its football team to Vietnam to boost bilateral cooperation on sports.

The minister also expressed hope that PM Nguyen Xuan Phuc will visit his country in the coming time.