Addressing the meeting of over 250 Vietnamese businesses in Hanoi on August 1, 2006 organized by VCCI, President Hugo Chavez of Venezuela, offered full support to Vietnamese businesses.
Vietnam and Venezuela officially established diplomatic relations in 1989. The bilateral relations have been upgraded : MOUs on political consultation and visa exemption for diplomatic and service passports have been signed; negotiation is under way for a frame agreement to develop cooperation in such areas as oil and gas, mining, energy, culture, etc.
VCCI President Vu Tien Loc pointed out that the trade value remains modest in comparison with the close bilateral relationship. In 2005, Vietnam export value was US$7,7 million and export from Venezuela worth US$400,000. Vietnam can export to Venezuela foods and foodstuff (as 90% of Venezuela demand are from the import), farming instruments, electrical and electronic appliances, garment, footwear and others, and import from Venezuela minerals (iron and aluminum, etc.).
President Hugo Chavez said that Venezuela will be the gate door for Vietnam to enter South American markets, as Venezuela is member of MERCOSUR. The President also ensured full support for Vietnamese companies to do business in Venezuela.
Venezuela expects Vietnam cooperation in agriculture, food production, infrastructure, building roads and railways, metallurgy, processing industry, fisheries, tourism, etc. and is ready to cooperate with Vietnam in oil and gas industry, and coal mining (ranking first and third respectively in South America.
President Hugo Chavez said that Venezuela will assist Vietnam in building oil refinery and invited PetroVietnam to exploit oil in Venezuela and ship directly to Vietnam via Panama canal.
During the visit of President Hugo Chavez, the two countries have signed frame agreement of cooperation, and cooperation agreements on culture and energy.
Lan Anh
Vietnamese
