Prime Minister received Turkish finance, industry ministers

Prime Minister Pham Minh Chinh hosted separate receptions for Turkish Minister of Budget and Finance Mehmet Simsek and Minister of Industry and Technology Mehmet Fatih Kacir in Ankara on November 30 (local time).
Prime Minister hosts Turkish finance, industry ministers
Prime Minister Pham Minh Chinh (R) and Turkish Minister of Budget and Finance Mehmet Simsek. (Photo: VNA)

Hosting Minister Simsek, PM Chinh stressed that Vietnam and Türkiye hold strategically important geographical positions, capable of helping each other connect with major markets in Europe, the Middle East-Africa, and Asia.

Vietnam values the strengthening of economic cooperation on a mutually beneficial basis between the two countries, he said.

As there remains huge room for bilateral collaboration and the two economies are complementary to each other, Chinh suggested the minister continue actively contributing to improving the effectiveness of bilateral economic ties. The measures include stepping up negotiations on the Vietnam-Türkiye Free Trade Agreement (FTA), removing trade barriers for Vietnamese exports, recognising Vietnam as a market economy, and increasing the sharing of experience with Vietnam in building fiscal and monetary policies.

Simsek, for his part, affirmed that Türkiye and Vietnam are well-positioned to develop ties. He affirmed Vietnam is one of the priority economic partners of Türkiye, wished that their multifaceted cooperation will grow stronger.

Agreeing with cooperation directions set by the PM, he underscored the importance of combining efforts to enhance exchanges through promoting air connectivity, creating favourable visa conditions, and opening branches of commercial banks in Vietnam.

He highlighted the need to reduce protective measures to facilitate trade cooperation, explore the possibility of initiating FTA negotiations to create breakthroughs in bilateral trade at an opportune time, aiming for a trade balance and establishing stronger cooperation frameworks in the future; and encourage Turkish enterprises to engage more in infrastructure development investment projects in Vietnam.

Meeting Minister Kacir, PM Chinh expressed his wish to bolster coordination with Türkiye in national industrialisation process.

Hailing Türkiye as Vietnam’s biggest direct investor from the Middle East, he welcomed and committed all possible support to Turkish firms and groups doing business in the country.

The Vietnamese leader proposed that given Türkiye's experience in operating industrial zones (IZs), the country explore opportunities for investment and share management experience in operating IZs and hi-tech zones in Vietnam. Both sides could discuss this matter in detail at the eighth session of the Intergovernmental Committee, he said.

In reply, Kacir affirmed that as an industrial and manufacturing nation, Türkiye wishes to further improve the effectiveness of cooperation with Vietnam in areas of strength such as industry, high technology, automation, defence industry, automobile manufacturing, and satellite technology.

Suggesting further collaboration between Turkish electric car manufacturers and Vietnamese partners, he said it as a new but highly potential area.

He agreed with the importance of a network of free trade agreements in accessing and expanding markets, suggesting that both countries continue refining the legal framework to facilitate their cooperation activities in the near future.

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(Source: VNA)