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Nov 25, 2022 / 15:17

Vietnam, Uganda boost bilateral free trade

The visit of Ugandan President would open a new development phase for the two countries amid the upcoming 50th anniversary of diplomatic relations (1973-2023).

Vietnam and Uganda have agreed to work on a bilateral free trade agreement, investment protection, and facilitation to facilitate economic cooperation between Vietnam and Uganda.

The view was shared by top leaders of Vietnam and Ugandan President and Chairman of the National Resistance Movement (NRM) Yoweri Kaguta Museveni at separate meetings held in Hanoi on November 24.

 General Secretary of the Communist Party of Vietnam (CPV) Nguyen Phu Trong and Ugandan President and Chairman of the National Resistance Movement (NRM) Yoweri Kaguta Museveni. Photos: VNA

General Secretary of the Communist Party of Vietnam (CPV) Nguyen Phu Trong welcomed President Museveni's visit to Vietnam, saying it would open a new development phase between the two parties and countries amid the upcoming 50th anniversary of diplomatic relations (1973-2023).

Trong congratulated Uganda’s achievements in the development process and expressed his belief that the country, under the leadership of the NRM and the president, would maintain a peaceful and stable environment for further growth.

He said Vietnam remains steadfast in pursuing an independent foreign policy for peace, self-reliance, and development, striving to be a credible and responsible international community partner.

"Vietnam continues to prioritize relations with African countries in general, and Uganda in particular, which supported each other's struggle for national independence and complemented one another in socio-economic development," he said.

Such close cooperation would contribute to the rising status of developing countries on the global stage,” he added.

President Museveni highly regarded the CPV's leadership role in Vietnam’s independence and development.

He expected both countries to continue strengthening the relations and take the cooperation to a new height.

Bolstering economic cooperation a priority

 Prime Minister Pham Minh Chinh and Uganda President Yoweri Kaguta Museveni.
In a meeting with Uganda President Museveni on the same day, Prime Minister Pham Minh Chinh called for both sides to continue supporting each other in multilateral forums, especially as Uganda would take over the Chairmanship of the Non-Aligned Movement for the 2023-2026 period.

Chinh expected both sides to strengthen economic cooperation to reflect political relations and a combined market of nearly 150 million people.

Chinh also noted the necessity for both to facilitate bilateral trade and promoting investment activities, particularly as each serves as the gateway to their respective regional markets of ASEAN and East Africa.

He welcomed the preliminary results of investment cooperation between Vietnam and Uganda, particularly in the mining and construction activities, with total investment capital of nearly US$40 million.

With agriculture seen as a major pillar in bilateral cooperation, Chinh expected both sides to improve efficiency for sustainable national food security while taking measures to boost cooperation in training-education, IT, defense, security, healthcare, and culture-sports.

President Museveni expressed his deep impression of Vietnam’s socio-economic achievements over the years and the country’s rising status in multilateral platforms, especially the UN.

Museveni expected Vietnam as a member of the UN’s Human Rights Council for 2023-2025, would significantly contribute to peace, stability, and maintaining human rights worldwide.

He said that Uganda prioritized its relations with Vietnam and shared Chinh's view of further boosting trade, investment, and agriculture cooperation.