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Feb 02, 2016 / 13:32

Strengthening relationship between Saudi Arabia and Vietnam

On February 1, National Assembly (NA) Chairman Nguyen Shinh Hung talked with the Chairman of the Consultative Assembly of the Kingdom of Saudi Arabia Abdullah Bin Mohammed Ibrahim Al-Sheikh in Hanoi.

NA Chairman told his guest that he believed the visit would further strengthen bilateral cooperation between the two countries and legislative bodies. He urged Saudi Arabian investors to increase their investment in Vietnam. He called for the early signing of bilateral economic and investment cooperation agreements to create legal framework for cooperation between the two countries’ enterprises. 
NA Chairman Nguyen Sinh Hung received top Saudi Arabian legislator Abdullah Bin Mohammed Ibrahim Al-Sheikh
NA Chairman Nguyen Sinh Hung received top Saudi Arabian legislator Abdullah Bin Mohammed Ibrahim Al-Sheikh

Saudi Arabia’s top legislator said his nation is keen to to strengthen its traditional relationship with Vietnam and considers the Southeast Asian an important partner in Asia. He expressed his hope that the two sides will increase high-level delegation exchanges, sign economic and investment agreements to create legal foundations for their businesses, and organise investment forums to step up economic and trade cooperation.

The visit will help consolidate the friendship and cooperation between the two countries and their parliaments, Chairman Nguyen Sinh Hung said. He added that during the development and integration process, the Vietnamese NA has actively participated in international parliamentary forums and paid attention to boosting bilateral parliamentary collaboration, including with parliaments in the Middle East. 

Vietnam and Saudi Arabia established diplomatic relations in October 1999. Vietnam opened its embassy in Riyadh in April 2007, and Saudi Arabia inaugurated its embassy in Hanoi in December 2009.

In recent years, the two sides have strengthened the exchange of delegations at all levels to boost bilateral relations. Economic and trade relations between Vietnam and Saudi Arabia have developed rapidly over the past years, with an average growth rate of more than 40 percent. According to the General Statistics Office of Vietnam, two-way trade hit 1.2 billion in 2013. Vietnam mainly exported garment, seafood, wooden and agricultural products, tea, machinery, paper and plastic products to Saudi Arabia while importing raw materials, chemicals and feed from the Middle East country.

The two leaders agreed to offer mutual support at international forums and further cooperate for peace, stability and prosperity of their peoples. They agreed to increase delegation exchanges between ministries and sectors and organize more investment forums to step up bilateral economic and trade cooperation and people-to-people exchanges. Both leaders showed their delight at the development of the two countries’ relations, and agreed to continue supporting each other at regional and international forums. 

They vowed to share more experience in legislative affairs and other important issues, while cooperating to build peace and boost prosperity for their people’s interests. The host suggested that Saudi Arabia, with its financial advantage, create favourable conditions for enterprises and investors to do business in Vietnam.