National Assembly Chairman Vuong Dinh Hue on Thursday reiterated the goal of lifting two-way trade between Vietnam and the Philippines to 10 billion USD in a more balanced manner by 2026 when the two countries celebrate their 50th anniversary of diplomatic ties. Addressing the Vietnam-Philippines Investment-Trade Forum, Mr. Hue said the two countries share similar strategic benefits with two-way trade hitting 7 billion USD.
He said the two countries hold important positions in ASEAN and have dynamic, active economies which do not compete but supplement each other.
Mr. Hue said: “Vietnam and the Philippines have great potential for further cooperation and today’s forum is momentum for us to establish cooperative mechanisms. Vietnam will continue to perform well in farm produce trade, ensure a high and stable export of rice at reasonable prices while staying ready to import products of the Philippines’ strength. We will create the best conditions for the two countries’ businesses to expand investment.”
President of the Philippine Senate Juan Miguel Zubiri hailed Vietnam for its vibrant, pro-business environment. He said he fully supports the strengthening of economic, trade and investment with Vietnam.
At the forum, businesses discussed bilateral cooperation in education, training, agriculture, and construction materials.
In the morning the same day, Chairman Hue laid wreaths at Rizal Monument and President Ho Chi Minh Monument at ASEAN Park.