On the afternoon of April 5, 2025, in the capital city of Tashkent, Deputy Minister of Industry and Trade of Vietnam Phan Thi Thang had a working session with Mr. Ilzat Kasimov, Deputy Minister of Investment, Industry and Trade of Uzbekistan. Also attending the meeting were representatives of the Department of Foreign Market Development, the Vietnam Trade Office in the Russian Federation concurrently serving in Uzbekistan and representatives of the Vietnam National Oil and Gas Group (PVN).
However, the trade turnover between the two countries only accounts for a small proportion of the total import and export of Vietnam and Uzbekistan, showing that the economic and trade relations are not yet commensurate with the potential of both countries. Deputy Minister Phan Thi Thang suggested that the two sides closely coordinate to implement the work contents stated in the Joint Action Plan on promoting economic and trade cooperation for the period 2025-2026 between Vietnam and Uzbekistan. In addition to traditional areas of cooperation in trade and agriculture, the two sides will study and propose cooperation in areas where one side has advantages and the other side has demand, considering the possibility of cooperation in developing fundamental industries, especially materials, supporting industries, mining, processing, manufacturing, chemicals, energy, etc.
Regarding cooperation in the energy sector, the Vietnam National Energy Industry Group (PVN) is currently discussing with the Uzbekistan National Oil and Gas Company (Uzbekneftgaz) to seek cooperation opportunities. The two sides also had bilateral meetings during this working trip.
For his part, Deputy Minister of Investment, Industry and Trade of Uzbekistan Ilzat Kasimov was pleased to welcome the delegation of the Ministry of Industry and Trade of Vietnam to visit and work in Uzbekistan, considering this an opportunity for the two sides to promote cooperation in the fields of economy, trade and energy. Vietnam and Uzbekistan have a good traditional friendship, with more than 5,000 Vietnamese people graduating from Uzbekistan's universities. Currently, there are a number of large Vietnamese enterprises investing in Uzbekistan.
Deputy Minister Ilzat Kasimov said that Uzbekistan is focusing on industrial development and investment attraction, which are pillars of the national economic strategy. The Uzbek government has many policies to support and encourage businesses to invest in business such as the establishment of free economic zones, preferential tax and land policies, development of high-quality human resources, etc. Uzbekistan always supports Vietnamese businesses to invest in Uzbekistan.
Deputy Minister Ilzat Kasimov agreed with the proposals of Deputy Minister Phan Thi Thang and affirmed that Uzbekistan always attaches importance to and wishes to promote cooperation with Vietnam in many fields, especially in economics, trade and industry, with the goal of increasing bilateral trade turnover and facilitating businesses of the two countries to invest in each other's markets.
After 7 years since the 7th Session in 2018, the two sides agreed to organize the 8th Session of the Vietnam - Uzbekistan Intergovernmental Committee on Economic - Trade and Scientific - Technical Cooperation directly in Vietnam in 2025 to review the cooperation situation and identify potential areas and work contents that need to be implemented to further promote economic, trade, investment, scientific and technological relations.
At the end of the working session, the two Deputy Ministers signed a Joint Action Plan on promoting economic and trade cooperation for the 2025-2026 period between Vietnam and Uzbekistan.
Currently, Uzbekistan is Vietnam's second largest trading partner in Central Asia, while Vietnam is Uzbekistan's largest trading partner in Southeast Asia. In 2024, trade between the two sides will reach 202.0 million USD, an increase of 26.5% over the same period in 2023. Of which, Vietnam's exports will reach 128.61 million USD (an increase of 75.0%), and imports will reach 73.38 million USD (a decrease of 14.9%). Vietnam's main exports to Uzbekistan include: phones of all kinds and components, computers, electronic products and components, machinery, equipment, tools, other spare parts, rubber products, and 9-seat car components. Vietnam's main imports from Uzbekistan include: fertilizers of all kinds, textile and garment materials, leather, shoes, and cotton of all kinds. |
Source: https://moit.gov.vn/tin-tuc/hoat-dong/hoat-dong-cua-lanh-dao-bo/thu-truong-bo-cong-thuong-phan-thi-thang-lam-viec-voi-thu-truong-bo-truong-dau-tu-cong-nghiep-va-thuong-mai-uzbekistan.html
![[Photo] Prime Minister Pham Minh Chinh meets with US business representatives](https://vphoto.vietnam.vn/thumb/1200x675/vietnam/resource/IMAGE/2025/5/13/5bf2bff8977041adab2baf9944e547b5)
Comment (0)