Armenia, Vietnam discuss expanding economic cooperation

As part of the 2nd session of the Joint Intergovernmental Commission on Economic, Scientific and Technical Cooperation between Armenia and Vietnam, taking place in Yerevan on May 14-15, Deputy Minister of Economy of Armenia Arman Khojoyan met with the Vietnamese Co-Chair of the Intergovernmental Commission, Vice Minister of Industry and Trade Phan Thi Thang, the Armenian Ministry of Economy said in a readout.

The meeting was also attended by Armenia’s Ambassador Extraordinary and Plenipotentiary to Vietnam Suren Baghdasaryan.

During the meeting, the parties discussed a number of issues related to deepening economic cooperation between the two countries, strengthening existing ties and developing new areas of cooperation. They emphasized the need for more effective use of the bilateral economic potential.

Khojoyan noted that in recent years Armenia’s economic policy has been aimed at strengthening the stability and competitiveness of the economy through diversification.

“In this context, we attach particular importance to the diversification of both exports and imports, as well as supply chains. We are convinced that closer cooperation with Vietnam can significantly contribute to the implementation of these goals,” Khojoyan said.

He also referred to the possibilities of exporting Armenian brandy (cognac) to the Vietnamese market.

The parties discussed trade, food processing, information technologies, light industry and a number of other sectors among the most promising areas of cooperation between Armenia and Vietnam.

The meeting also touched upon the “Crossroads of Peace” initiative, which aims to create a more connected, stable and cooperative environment in the South Caucasus through the unblocking and development of transport and economic ties.