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| Prime Minister Pham Minh Chinh will lead a high-ranking Vietnamese delegation to attend the ASEAN-Gulf Cooperation Council (GCC) Summit and visit Saudi Arabia from October 18-20. (Photo: Nguyen Hong) |
Could you please share the significance of this ASEAN-Gulf Cooperation Council (GCC) Summit in promoting and creating a framework for cooperation between ASEAN and the GCC?
It can be said that GCC-ASEAN cooperation is a process that began in 1990 when the first official contacts between ASEAN and the GCC took place. Since then, ASEAN-GCC Foreign Ministers have often met on the sidelines of the United Nations General Assembly (UNGA) in New York.
The first ASEAN-GCC Ministerial Meeting was held in June 2009 in Manama, Bahrain, and adopted the ASEAN-GCC Joint Vision, in which both sides agreed to conduct research and make recommendations on ASEAN-GCC relations in the following areas: Free Trade Area, Economic Cooperation and Development, Culture, Education and Information. At the Meeting, the ASEAN Secretariat and the GCC Secretariat signed a Memorandum of Understanding (MOU).
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| Vietnamese Ambassador to Saudi Arabia Dang Xuan Dung. (Photo: Tuan Anh) |
The ASEAN-GCC Summit took place in the context of the increasingly affirmed role of ASEAN and the GCC in the region and the world. The relationship between ASEAN and the GCC has also been increasingly strengthened, with all 6 members of the GCC having signed the document of accession to the Treaty of Amity and Cooperation in Southeast Asia (TAC).
In addition, this Summit is also the first summit between the two blocs’ leaders, an important milestone in ASEAN-GCC relations. The expected documents will create more foundation and momentum to promote the enhancement of relations between the two blocs, especially in areas of cooperation with great potential such as economy, trade, culture and people-to-people exchange.
Could you please assess the potential for cooperation between ASEAN and GCC, especially economic cooperation, in the context that the GCC considers cooperation with "Eastern" countries as a focus in the coming time?
With the favorable political and diplomatic relations between the two blocs and on the basis of existing economic, trade and investment relations, I believe that ASEAN and the GCC have great potential to develop economic relations and labor cooperation in the coming time.
| "The expected documents will create more foundation and momentum to promote the enhancement of relations between the two blocs, especially in areas of cooperation with great potential such as economy, trade, culture and people-to-people exchange." |
The countries in the GCC (UAE, Bahrain, Saudi Arabia, Oman, Qatar and Kuwait) have high economic growth rates, social change, positive development, young populations (over 50% of the population is under 25 years old - according to 2020 statistics), and a low proportion of the elderly. The total population of the GCC region has nearly doubled in 20 years, from 26.2 million in 1995 to 56.4 million in 2021, largely due to the sharp increase in the number of migrant workers in the region.
Meanwhile, according to 2021 statistics, the total population of ASEAN countries is estimated at 666.19 million people, nearly 12 times higher than the population of GCC countries. ASEAN has an abundant labor force, contributing significantly to the labor force in GCC countries, and is also a very large market for export goods from GCC countries.
GCC with an area of 3.35 million km2, smaller than the area of ASEAN countries (4.22 million km2), mainly desert, arid, difficult in agricultural production, output does not meet demand so essential goods must mainly be imported.
Economic cooperation between the GCC and ASEAN has expanded in recent years in many areas such as investment, trade, and labor. ASEAN countries export agricultural products, food, machinery, equipment, vehicles, and spare parts to the GCC while importing liquefied gas, oil, plastic materials, and chemicals.
Some ASEAN countries, including Thailand, have investment projects in GCC countries and vice versa. Currently, in Vietnam, Saudi Arabia has 7 investment projects, Kuwait has 2 investment projects with about more than 3 billion USD. UAE investors are also very interested in Vietnam and currently have 3-4 projects with a total registered capital of about 74 million USD.
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| Deputy Prime Minister Tran Luu Quang and delegates attending the Vietnam-Saudi Arabia Business Forum on September 11. (Photo: Tuan Anh) |
Regarding relations with Saudi Arabia, what is the Ambassador's assessment of Prime Minister Pham Minh Chinh's visit this time in promoting bilateral cooperation?
In recent years, the relationship between Vietnam and Saudi Arabia has had many remarkable developments in many areas such as politics, trade, tourism... The two countries have many things in common such as both having an increasing role in the region, an open foreign policy and strengthening friendly relations with other countries, socio-economic development policies and plans that focus on serving people and businesses...
Prime Minister Pham Minh Chinh’s working trip to Saudi Arabia this time is our highest-level activity in Saudi Arabia since the visit of former President Nguyen Minh Triet (April 2010). The visit takes place in the context of the two countries preparing to celebrate the 25th anniversary of establishing diplomatic relations in 2024.
Therefore, Prime Minister Pham Minh Chinh's working trip will certainly create new momentum to promote relations between the two countries. The Prime Minister's activities will focus on promoting investment, economic, and labor relations... During the working trip, it is expected that a number of Memorandums of Understanding will be signed, contributing to strengthening bilateral cooperation in specific areas.
In addition, ministries, sectors and businesses of both sides will have many opportunities to work and connect with each other effectively and practically, especially through the Bilateral Business Forum and meetings. I believe that the Prime Minister's visit will open up many new aspects of cooperation in the coming time.
The echoes of the Vietnam-Saudi Arabia Business Forum successfully held in mid-September are still "hot", what are your expectations for strong changes in bilateral economic cooperation in the coming time?
It can be said that Saudi Arabia is our leading economic partner in the Middle East. In the first 7 months of 2023, we exported over 608.2 million USD worth of products to Saudi Arabia, an increase of more than 60% over the same period in 2022, and imported over 956.5 million USD, a decrease of 11.4%. Another good thing is that the trade deficit has decreased from over 699 million USD to over 348 million USD, showing that Vietnamese products are increasingly asserting their position in this market.
The Vietnam-Saudi Arabia Business Forum last September was a remarkable milestone in bilateral economic and trade relations when, for the first time, the Riyadh Chamber of Commerce organized the largest Saudi business delegation ever to our country to promote trade and seek investment opportunities.
After the Forum, a number of businesses were able to connect directly with each other to discuss and cooperate in exporting specific products such as garments, decorative handicrafts, and furniture; a number of travel companies and resort tourism services also signed cooperation agreements.
The Embassy has directed the Trade Office to monitor and update actual trade activities, considering this a key task that needs to continue to promote and support businesses on both sides to provide timely and prompt information.
| "Specific agreements have been and will be reached to help increase export turnover of agricultural products, seafood, food, garments, furniture, handicrafts to the market, especially superior and breakthrough technological products." |
I have high expectations for trade cooperation between the two sides in the coming time. Specific agreements have been and will be reached to help increase the export turnover of agricultural products, aquatic products, food, garments, furniture, handicrafts to the market, especially superior and breakthrough technological products.
Currently, there are Vietnamese enterprises directly going to the area to promote, advertise and demonstrate high-tech products, designed, manufactured and produced entirely by Vietnamese engineers and technology, contributing to creating new marks on the capacity and potential of Vietnam's economy in the current 4.0 technology era.
In all circumstances, the Vietnamese Embassy in Saudi Arabia will do its best to be a “bridge” connecting and supporting localities and businesses of the two countries in implementing agreements and contracts, thereby promoting stronger and more substantial bilateral economic cooperation in the coming time.
Thank you Ambassador!
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