- Uzbekistan and Vietnam commit to deepen cooperation across trade, economy, science.
- Joint Trade Working Group proposed to enhance investment and business coordination.
- Bilateral trade reached record levels, underscoring expanding economic partnership.
Uzbekistan and Vietnam held the eighth meeting of the Vietnam–Uzbekistan Intergovernmental Committee on Trade, Economic, and Scientific-Technical Cooperation in Hanoi, advancing plans to strengthen ties between the two nations.
At the opening of the session, Vietnam’s Deputy Minister of Industry and Trade, Pham Thi Thanh, reaffirmed both countries’ commitment to expanding engagement across all significant areas, with an emphasis on trade, economic collaboration, and scientific-technical partnerships.
Representing Uzbekistan, Deputy Minister of Investment, Industry and Trade Ilzat Kasimov highlighted Vietnam’s role as a priority partner in Southeast Asia and underlined the importance of inter-agency coordination to enhance the impact of joint initiatives. Kasimov also announced Uzbekistan’s readiness to facilitate investment opportunities for Vietnamese companies and proposed creating a Joint Trade Working Group to streamline cooperation and support business connectivity.
During the meeting, delegates reviewed current cooperation and identified key sectors for further collaboration. These include agriculture and agro-processing, light industry, automotive manufacturing, logistics and transport, construction, tourism, and cultural exchange all seen as areas where complementary economic strengths can form efficient supply chains from production to export markets.
Also Read: Why Packaging for Semicon & Medtech Signals Global Trade Trends
Participants agreed that both economies possess significant potential to benefit from deeper integration, especially by leveraging each other’s strengths to expand access to external markets. Government bodies and business representatives from both sides expressed strong intentions to transform the discussed agreements into practical projects that will fuel future growth.
According to data from the Vietnam Customs Department, bilateral trade in 2024 reached approximately US$202 million, marking the highest trade volume recorded so far, with exports from Vietnam increasing substantially and Uzbekistan maintaining its position as a major partner in Central Asia.
Vietnam’s main exports include electronics, machinery, and automotive parts, while Uzbekistan supplies fertilizers, cotton, and textile materials. Additionally, five Vietnamese investment projects with over US$4.4 million in registered capital are currently active in Uzbekistan, reflecting growing economic engagement.