Vietnam steps up trade co-operation with Venezuela

Thursday, May 13, 2021  10:42

Ambassador Le Viet Duyen (left) presides over a teleconference to promote trade exchange between Vietnam and Venezuela. 

VOV.VN - The Vietnamese Embassy in Venezuela and the Venezuela Foreign Trade Bank (BANCOEX) co-hosted a teleconference on May 11 to seek ways to accelerate trade promotion between the two countries.

Addressing the event, Juan Freer, vice chairman of the Board of Directors of BANCOEX, emphasized that through the ongoing Venezuela Exporta scheme, BANCOEX hopes to promote the commercialization of key Venezuelan products, including crude oil, coffee, cocoa, and green beans, to generate hard currencies for domestic production.

Freer went on to state that Venezuela’s export turnover to Vietnam over recent years has significantly increased, climbing from US$1.2 million in 2017 to US$4.8 million in 2019, and the figure is expected to rise in the coming years.

In response, Vietnamese Ambassador to Venezuela Le Viet Duyen briefed participants on Vietnamese products of highly competitive advantage, such as farm produce, telephones and electronic components, garment and textiles, footwear, and aquatic products.

Most notably, several Vietnamese agricultural products have maintained their prestige within the international market in terms of both quantity and overall product quality, the Vietnamese diplomat noted.

Ambassador Duyen also stressed that the teleconference will allow firms to gain greater insights into the Vietnamese market, thereby drawing companies with proper business strategies, whilst simultaneously ramping up further trade transactions between both sides.

As part of the event, the Vietnam Embassy in Venezuela has released a manual aimed at providing Vietnamese firms with useful information about market and investment opportunities in the Venezuelan market.