Vietnam, Saudi Arabia move closer

Saudi-ArabiaVietnam and Saudi Arabia emphasised their close relationship as “strategic partners” in trade, investment and foreign affairs, according to Vietnam’s Ambassador to Saudi Arabia, Tran Ngueyen Tuyen, who held a reception in Riyadh on the occasion of his country’s 68th National Day on October 22.

Ambassador Tuyen spoke candidly of Saudi Arabia’s initiatives for interfaith dialogue and other humanitarian activity for promoting international peace and stability. He said that around 15,000 Vietnamese nationals are currently working in Saudi Arabia.

“Many people here may have limited knowledge on our country. Our embassy is working hard to strengthen relations in all areas of cooperation,” he said.

Saudi-Vietnamese diplomatic relations were established in 1999. The two countries signed a general agreement on cooperation in economics, trade, investment and technology on May 25, 2006.

Saudi Arabia remains Vietnam’s biggest West Asian trade partner, with trade turnover reaching $1.5 billion  in 2013. The Kingdom also grants Vietnam a soft loan of $50 million every year. Vietnam’s main exports to Saudi Arabia are seafood, tea, coffee, pepper, cashew nuts, rice textiles, garments and wood products. The country imports plastic material, liquefied gas, chemicals and related products, fertilizers and animal feed.

“Vietnam’s multi-faceted cooperation with Saudi Arabia is focused in the oil and gas, agriculture, investment, trade and labor industries, as its foreign policy priorities lie in the Middle East,” the ambassador said.

In 2000, Saudi Arabia and Vietnam signed an agreement for the avoidance of double taxation and the prevention of tax evasion with respect to income tax.

“The Saudi-Vietnamese cooperative relationship has been promoted, but it is not on par with these countries potential,” said a report issued by the Ministry of Foreign Affairs in Vietnam in 2011. Both countries must exert greater efforts to realise their potential, the report added.

The two countries negotiated agreements on visa exemption for diplomatic and official passport holders and discussed protecting and encouraging investment and air transportation.



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Vietnam and Saudi Arabia emphasised their close relationship as "strategic partners" in trade, investment and foreign affairs, according to Vietnam’s Ambassador to Saudi Arabia, Tran Ngueyen Tuyen, who held a reception in Riyadh on the occasion of his country’s 68th National Day on October 22. Ambassador Tuyen spoke candidly of Saudi Arabia’s initiatives for interfaith dialogue and other humanitarian activity for promoting international peace and stability. He said that around 15,000 Vietnamese nationals are currently working in Saudi Arabia. “Many people here may have limited knowledge on our country. Our embassy is working hard to strengthen relations in all areas...

Saudi-ArabiaVietnam and Saudi Arabia emphasised their close relationship as “strategic partners” in trade, investment and foreign affairs, according to Vietnam’s Ambassador to Saudi Arabia, Tran Ngueyen Tuyen, who held a reception in Riyadh on the occasion of his country’s 68th National Day on October 22.

Ambassador Tuyen spoke candidly of Saudi Arabia’s initiatives for interfaith dialogue and other humanitarian activity for promoting international peace and stability. He said that around 15,000 Vietnamese nationals are currently working in Saudi Arabia.

“Many people here may have limited knowledge on our country. Our embassy is working hard to strengthen relations in all areas of cooperation,” he said.

Saudi-Vietnamese diplomatic relations were established in 1999. The two countries signed a general agreement on cooperation in economics, trade, investment and technology on May 25, 2006.

Saudi Arabia remains Vietnam’s biggest West Asian trade partner, with trade turnover reaching $1.5 billion  in 2013. The Kingdom also grants Vietnam a soft loan of $50 million every year. Vietnam’s main exports to Saudi Arabia are seafood, tea, coffee, pepper, cashew nuts, rice textiles, garments and wood products. The country imports plastic material, liquefied gas, chemicals and related products, fertilizers and animal feed.

“Vietnam’s multi-faceted cooperation with Saudi Arabia is focused in the oil and gas, agriculture, investment, trade and labor industries, as its foreign policy priorities lie in the Middle East,” the ambassador said.

In 2000, Saudi Arabia and Vietnam signed an agreement for the avoidance of double taxation and the prevention of tax evasion with respect to income tax.

“The Saudi-Vietnamese cooperative relationship has been promoted, but it is not on par with these countries potential,” said a report issued by the Ministry of Foreign Affairs in Vietnam in 2011. Both countries must exert greater efforts to realise their potential, the report added.

The two countries negotiated agreements on visa exemption for diplomatic and official passport holders and discussed protecting and encouraging investment and air transportation.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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