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Thursday, 7 September 2017

Egypt, Vietnam agree to increase bilateral trade to USD 1 bn

Egypt, Vietnam target growing bilateral trade to USD 1 bn: Egypt and Vietnam want to triple bilateral trade to USD 1 bn, with a focus on shipbuilding, IT, maritime transport, manufacturing, and agriculture, according to an Ittihadiya statement (pdf). The announcement came during President Abdel Fattah El Sisi’s visit to Hanoi, the first by an Egyptian head of state to the Southeast Asian nation. “Vietnam is committed to facilitating the entry of Egyptian goods in Vietnam and welcomes the Egyptian President’s support for the import of Vietnamese products,” Vietnamese President Trần Đại Quangsaid, according to Vietnam News Agency.

El Sisi and Quang also presided over the signing of nine MoUs in Hanoi yesterday. The agreements pertain to cooperation in trade and industry, maritime trade, promoting investments, fish farming, building and managing ports and economic zones, and media. The two sides also agreed to set up programs for cooperation in tourism and culture.

El Sisi sat down with Quang in a closed session to discuss counterterrorism cooperation, then met with Prime Minister Nguyễn Phú Trọng to discuss increasing business and cultural cooperation, according to an Ittihadiya statement (pdf). The president, who’s also attending a business forum today, invited the Vietnamese leaders to visit Egypt.

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