Vietnam, Ukraine Expect $1 Billion In Trade

HANOI, Vietnam -- Vietnam and the Ukraine have agreed to create more favourable conditions for businesses of the two sides to boost cooperation, with the aim of increasing the two-way trade value to $1 billion in the near future.

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The agreement was reached during the 8th session of the Vietnam-Ukraine Inter-governmental Committee on Economic-Commercial and Scientific-Technological Cooperation, which took place in the Ukrainian capital city of Kiev from August 28-30.

Participants at the session discussed measures to further promote bilateral cooperation as well as to make the most use of each side's potential.

The Ukrainian side wanted to cooperate with Vietnam in energy, chemicals, shipbuilding, manufacturing, aviation and aerospace, while the Vietnamese side is expected to provide the Ukraine with consumer goods, garments, footwear, and farm produce.

Over recent years, bilateral trade between Vietnam and the Ukraine has steadily increased. Trade stood at nearly $230 million last year.

However, most participants at the session agreed that two-way trade as well as scientific-technological cooperation between Vietnam and the Ukraine have failed to match their potential and aspirations.

The Vietnamese delegation to the conference was led by Le Danh Vinh, Deputy Trade Minister, and the Ukrainian delegation by Deputy Economics Minister Andri Berezny.

Source: VNA