Vietnam, Myanmar target 1 billion USD in bilateral trade

Deputy Prime Minister Vuong Dinh Hue highlighted Vietnam's wish to unceasingly develop relations with Myanmar during talks with Myanmar Vice President Myint Swe in Nay Pyi Taw on Monday. Both sides agreed to increase high-level visits and meetings and discussed ways to raise bilateral trade to 1 billion USD.

Mr. Hue asked the Myanmar government to continue creating favorable conditions for Vietnamese firms to operate in Myanmar, accelerate the licensing of Vietnamese projects, and provide preferential treatment for Vietnamese investors. He said the Vietnamese government always advises Vietnamese enterprises to strictly follow Myanmar's laws and contribute to local socio-economic development.

The two sides underlined the importance of maintaining peace, stability and cooperation for common development and prosperity, and coordinating with each other in addressing challenges to regional security, including the East Sea. They affirmed their support for the peaceful settlement of East Sea disputes on the basis of international law, including the 1982 UN Convention on the Law of the Sea and vowed to support full implementation of the Declaration on the Conduct of Parties in the East Sea and the early finalization of an effective Code of Conduct.

They also promised to continue working closely with each other at regional and international forums, especially the UN and ASEAN.

On the occasion, Deputy PM Hue paid a courtesy visit to Myanmar's State Counselor Aung San Suu Kyi.

Source: VOV5