Qatar, Vietnam: Broad Prospects For Trade, Investment Partnerships

(MENAFN- The Peninsula) QNA

The relations between the State of Qatar and the friendly Socialist Republic of Vietnam are characterized by strong and excellent relations, reinforced by the common keenness to develop them and push them towards wider horizons for the benefit of the two friendly countries and peoples.

These relations are based on mutual respect and common interests, reinforced by high-level visits and agreements signed between the two parties in many fields.

Diplomatic relations between the two countries were established on Feb. 8, 1993, at the ambassadorial level. The Ambassador of the Socialist Republic of Vietnam in the State of Qatar began his work in March 2008. The Embassy of the State of Qatar in Hanoi was opened on Jan. 25, 2010. The first Qatari Resident Ambassador in the Socialist Republic of Vietnam was appointed in 2011. In 2023, the two countries celebrated the 30th anniversary of the establishment of their diplomatic relations.

Over the past years, relations between Doha and Hanoi have witnessed significant progress in various political, economic, investment, labor, education, and other fields.

In the context of seeking to push these relations towards broader horizons and a new stage, the official visit of Prime Minister of the friendly Socialist Republic of Vietnam H E Pham Minh Chinh to Doha, where he will meet the Amir H H Sheikh Tamim bin Hamad Al-Thani, to discuss bilateral relations and ways to enhance and develop them to serve the interests and aspirations of the two friendly countries and peoples, especially in the political, economic, trade, investment, energy, agriculture, and other fields, in addition to discussing a number of current international issues of common interest.

The two countries exchange regular visits at various levels and hold permanent consultations to strengthen their bilateral relations and increase coordination between them in international forums.

In the context of the high-level meetings between the two sides, the Amir H H Sheikh Tamim bin Hamad Al-Thani met the Vietnamese Prime Minister on the sidelines of the Gulf Cooperation Council (GCC) countries and the Association of Southeast Asian Nations (ASEAN) Summit in the Saudi capital Riyadh in Oct. 2023, where they discussed bilateral relations between the two countries and ways to develop them in various aspects, in addition to addressing the most prominent topics on the summit's agenda.

In May 2023, Vice President of the Socialist Republic of Vietnam H E Vo Thi Anh Xuan paid an official visit to Doha, where she was welcomed by the Deputy Amir H H Sheikh Abdullah bin Hamad Al-Thani, and they discussed friendship and cooperation relations between the two countries and ways to bolster and develop them in various fields, in addition to topics of mutual interest.

During her visit to Doha, the Vice President of the Socialist Republic of Vietnam also met with Minister of Commerce and Industry H E Sheikh Mohammed bin Hamad bin Qassim Al-Thani, and they discussed topics of mutual interest aimed at enhancing cooperation between the two countries in trade, investment, and industry sectors.

For her part, HE Vice President of Vietnam hailed the relations that bring the two friendly countries and peoples together, expressing her pleasure to visit the Shura Council.

She praised the council's experience in supporting popular engagement in the decision-making process, noting in the same context, the important role undertaken by councils and parliaments in bringing countries and peoples together and defending just causes.

During her visit to the country, H E Vo Thi Anh Xuan also met with a delegation from the Qatar Chamber (QC), with whom she reviewed bilateral relations in the economic and commercial fields and ways to enhance them, in addition to the investment climate and opportunities available on both sides and the role of the private sector in activating the trade exchange between both countries, expressing her keenness to provide necessary facilities for Qatari businessmen to invest in Vietnam.

In recent years, many Vietnamese officials have visited Doha, focusing on ways to enhance trade and economic relations between their country and the State of Qatar, as well as cooperation between the private sectors of both countries in various economic fields, reviewing the investment climate and available opportunities, and establishing companies, trade alliances, and investment projects between companies on both sides two friendly countries have advanced trade relations. Vietnam mainly imports liquefied gas products, plastic raw materials, chemicals, and urea fertilizers from Qatar and mainly exports seafood products, wires, electrical cables, wood products, ceramics, fruits, vegetables, and electronic goods.

Qatar also has investments in Vietnam, which constitutes a basis for developing bilateral trade between Doha and Hanoi. Trade exchange between the two countries achieved a growth of 33% in 2022, exceeding QR 2 billion, compared to QR 1.5 billion riyals in 2021, and the completion of joint projects between the two sides in sectors such as health and pharmaceutical industries, which reflects the strength of trade relations and the desire of both sides to strengthen these relations.

On the political level, the third round of political consultations was held in Hanoi last July between the Ministries of Foreign Affairs of the State of Qatar and the Socialist Republic of Vietnam. Qatari side was headed by Minister of State for Foreign Affairs H E Sultan bin Saad Al Muraikhi, while the Vietnamese side was headed by Deputy Minister of Foreign Affairs H E Nguyen Minh Hang. The round of political consultations dealt with discussing bilateral cooperation, in addition to a number of issues of joint interest.

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