Vietnam, Mongolia expect US$12 million in trade

Vietnam and Mongolia have agreed to establish a business relationship, aiming to reach US$12 million in two-way trade by 2012.

The agreement was made during the 14th session of the Mongolia-Vietnam Inter-governmental Committee on economic, trade and scientific-technological co-operation held in Ulan Bator from August 26-29.

The Mongolian side at the meeting was led by Tunjin Badamjunai, Minister for Food Agriculture and Light Industry and Chairman of the sub-committee. The Vietnamese side was headed by Ho Xuan Hung, Deputy Minister of Agriculture and Rural Development and Chairman of the sub-committee.

The two sides reviewed the implementation of the agreements reached at the previous session, informed each other about socio-economic development in their respective countries, and set an orientation for future fundamental co-operation.

They stressed that during the upcoming visit to Vietnam by the Mongolian Chairman of the Mongolian National Assembly in December, the two sides expect to sign an agreement on co-operation in education and training for the 2011-2005 period and a protocol on hygiene and food safety quarantine for meats.

The Vietnamese delegation was received by Mongolian Deputy Prime Minister Miyegombo Enkhbold, who stressed both countries’ strength in agriculture as well as opportunities for co-operation in health care, education, food, agriculture, light industry, mining and energy.

He said he believed that Vietnam as ASEAN Chair will support Mongolia’s participation in the East Asian Summit meeting and in ASEAN activities.

Two-way trade between Vietnam and Mongolia reached US$9.8 million in 2009. (VNA)

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