Vietnam and Turkey aim to double trade value by 2020

12:00 | 25/08/2017

The two countries pledged to increase bilateral trade volume to $4 billion and discussed deepening defense ties.

Turkish Prime Minister Binali Yildirim (L) shakes hands with his Vietnamese counterpart Nguyen Xuan Phuc after attending

a press briefing at the Government Office in Hanoi, Vietnam August 23, 2017. Photo by Reuters/Kham

Vietnam and Turkey's prime ministers have pledged to double bilateral trade to $4 billion by 2020.

The statement was issued during Turkish Prime Minister Binali Yildirim's meeting with his Vietnamese counterpart Nguyen Xuan Phuc on Tuesday as part of his first official visit to Vietnam.

The two countries also committed to creating favorable conditions for businesses from both countries to promote mutual trade and investment, AP quoted Phuc as saying.

During their talks, Phuc asked Turkey to recognize Vietnam as a market economy, and to abolish unreasonable taxes on certain Vietnamese exports such as footwear, yarn, conveyor belts, air conditioners and mobile phones.

Yildirim asked Vietnam to support Turkey's candidature for the Executive Board of UNESCO for 2017–2021. He also expressed support for Vietnam becoming a non-permanent member of the United Nations Security Council for the 2020-2021 term.

The two countries agreed to work closely to promote cooperation in the fields of transport, science and technology, cultural and educational exchanges, and security and defense.

"There are special areas where our mutual cooperation can immediately be initiated, primarily the defense industry," AP quoted Yildirim as saying. However, details on defense cooperation were not immediately disclosed.

Yildirim expressed his support for Vietnam's efforts to maintain stability in the region, particularly in the South China Sea, which Vietnam calls the East Sea. He also voiced support for Vietnam and ASEAN's stance of resolving disputes in the South China Sea by peaceful means, through dialogue and in accordance with international law.

The two leaders also shared concerns regarding the growing global terrorist threat.

Turkey is currently one of Vietnam's largest trade partners in the Middle East. Vietnam's exports to Turkey are estimated to be $1.6 billion a year, while its imports an estimated $235 million of goods.

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