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| Welcoming ceremony for National Assembly Chairman Vuong Dinh Hue at Hazart Shahjalal International Airport, Dhaka, Bangladesh. (Source: VNA) |
Could you please share with us the significance and key contents of National Assembly Chairman Vuong Dinh Hue's visit to Bangladesh this time?
In the context of the two countries actively celebrating the 50th anniversary of diplomatic relations, the official visit to Bangladesh by National Assembly Chairman Vuong Dinh Hue this time is of special significance, creating new momentum for the development of traditional friendship and multifaceted cooperation between the two countries.
With the visit of National Assembly Chairman Vuong Dinh Hue, we continue to affirm that Vietnam persistently pursues a foreign policy of independence, self-reliance, multilateralization and diversification of international relations, in which it always attaches importance to strengthening friendly relations with traditional friendly countries, including Bangladesh.
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| Vietnamese Ambassador to Bangladesh Nguyen Manh Cuong. (Photo: Embassy) |
During the visit, in addition to the ruling party, the delegation will meet and exchange with leaders of the Communist Party, the Workers' Party, and the Bangladesh-Vietnam Friendship Association.
After more than three years of disruption due to the Covid-19 pandemic, this is the time for the two sides to review the contents and implementation of cooperation agreements in many fields to have appropriate measures to promote cooperation between the two countries in the new situation.
The leaders of the two countries' National Assembly will have a comprehensive discussion on bilateral relations in terms of politics-diplomacy, economic-trade-investment cooperation, regional and world situations of interest to both sides...
On this occasion, National Assembly Chairman Vuong Dinh Hue will also attend and speak at the Diplomatic Academy of Bangladesh, clarifying Vietnam's general development policy and Vietnam-Bangladesh relations.
The close relationship between the two National Assemblies will be raised to a new level through talks and exchanges in the direction of the two sides continuing to closely coordinate and actively support each other at regional and international parliamentary forums, especially at the Inter-Parliamentary Union (IPU) General Assembly, the Asian Parliamentary Forum (APPF)... contributing to the common development for peace and prosperity in the region and the world.
The two sides will inform and discuss the important results of the 9th Global Conference of Young Parliamentarians, which was successfully held in Hanoi from September 14-17, which is one of the contents that your National Assembly is very interested in.
In particular, this is the first time the two sides have officially signed a Cooperation Agreement between the two National Assemblies; a Cooperation Agreement between the Advisory and Support Agencies of the two National Assemblies; and officially announced the establishment of the Vietnam-Bangladesh Friendship Parliamentarians' Group.
| "This is the first time the two sides have officially signed a Cooperation Agreement between the two National Assemblies; a Cooperation Agreement between the Advisory and Support Agencies of the two National Assemblies; and officially announced the establishment of the Vietnam-Bangladesh Friendship Parliamentarians' Group." |
With the goal of increasing trade turnover from 1.5 billion USD in 2022 to 2 billion USD in the coming time, the two sides will focus on discussing measures to create a breakthrough in trade and investment cooperation between the two countries. During the visit, leaders of many chambers of commerce and industry, large enterprises and corporations of Bangladesh will meet with National Assembly Chairman Vuong Dinh Hue.
National Assembly Chairman Vuong Dinh Hue also attended and spoke, witnessing the signing of business cooperation agreements between a number of Vietnamese enterprises and Bangladeshi enterprises at the "Forum on policies and laws to promote economic, trade and investment cooperation between Vietnam and Bangladesh" held in Dhaka, Bangladesh.
This year, the two countries celebrate the 50th anniversary of diplomatic relations. Could you please assess the most prominent features of bilateral relations over the past five decades?
To celebrate the 50th anniversary of diplomatic relations, since the beginning of the year, the two countries have organized many meaningful and practical activities such as organizing the anniversary of the establishment of diplomatic relations (February 11, 1973 - February 11, 2023), commemorating Uncle Ho's birthday, organizing trade promotion delegations, political consultations... It can be said that over the past 5 decades, the traditional friendship between the two countries has continued to be consolidated, developed and increasingly deepened through all channels: Party diplomacy, State diplomacy, National Assembly relations and people-to-people exchanges.
Immediately after Bangladesh declared independence in March 1971, the Democratic Republic of Vietnam was one of the first countries to recognize the People's Republic of Bangladesh and officially establish relations at the highest level - ambassadorial level. Similarly, Bangladesh was the first country in South Asia to recognize (July 26, 1973) and establish diplomatic relations at the highest level with the Provisional Revolutionary Government of the Republic of South Vietnam (October 1973).
The regular exchange of high-level visits is an important milestone in strengthening and deepening the close relationship between the two countries. On our side, President Tran Duc Luong paid an official visit to Bangladesh (March 2004), Permanent Vice President of the National Assembly Tong Thi Phong led a high-level delegation of the Vietnamese National Assembly to attend the 136th Inter-Parliamentary Union Assembly in Bangladesh (2017), and President Tran Dai Quang paid a state visit to Bangladesh (March 2018).
On the Vietnamese side, Prime Minister Khaleda Zia paid an official visit to Vietnam (May 2005), Prime Minister Sheikh Hasina paid an official visit to Vietnam (November 2012), President Abdul Hamid paid a state visit to Vietnam (August 2015), and Speaker of the National Assembly Shirin Sharmin Chaudhury paid an official visit to Vietnam (July 2017). In addition, leaders of the two countries regularly have meetings on the sidelines of regional and international forums. The two countries always support each other in running for positions in important multilateral international organizations.
In addition to the ruling party, our Party still maintains good relations with other political parties such as the Communist Party, the Bangladesh Workers' Party, etc. People-to-people exchanges have been constantly developed and diversified in form. The people of Bangladesh always love and admire Vietnam in the struggle for national liberation and unification and admire the development of Vietnam today. In recent years, many works written about President Ho Chi Minh have been translated into Bangladeshi and are widely read by the people of Bangladesh. Last March, the establishment of the Bangladesh-Vietnam Friendship Association was an important milestone in strengthening cooperation and exchanges between the people of the two countries.
The two countries' parliaments have always maintained and developed close relations; exchanged experiences and informed each other about the situation in each country and internationally. Within the framework of multilateral cooperation, the two countries' parliaments continue to closely coordinate and actively support each other at regional and international parliamentary forums, especially at the Inter-Parliamentary Union (IPU) General Assembly, the Asian Parliamentary Forum (APPF)... contributing to the common development for peace and prosperity in the region and the world. Most recently, the Bangladeshi parliament sent a delegation of four young parliamentarians to attend the 9th Global Conference of Young Parliamentarians in Hanoi.
In terms of economy and trade, Bangladesh is currently Vietnam's second largest trading partner in South Asia. Bilateral trade has grown remarkably in recent years. In 2018, trade turnover between the two countries was only about 750 million USD, but by 2022 it had reached about 1.5 billion USD and continued to increase.
As the Ambassador emphasized, Bangladesh is currently Vietnam's second largest trading partner in South Asia, and the two countries are aiming for the target of 2 billion USD set by the leaders of the two countries. What is the Ambassador's assessment of the potential for bilateral economic cooperation?
Bangladesh is an emerging economy that, despite its challenges, is one of the fastest growing in the world.
With a large population of about 170 million people, mostly young workers, large and quite easy-going consumer demand, it is suitable for Vietnamese enterprises to expand investment and export Vietnamese products with strengths.
In addition, Bangladesh has built a National Vision, aiming to escape the group of poor countries by 2026, become an upper-middle-income country by 2035, and become a smart country by 2041. To achieve these goals, Bangladesh is actively seeking to expand economic partnerships, restructure the economy, especially export structure, attract foreign investment; and determine to expand relations with Southeast Asian countries, including Vietnam.
It can be said that Bangladesh is a new and potential market for Vietnamese and Bangladeshi partners in all fields, especially in the fields of agriculture, aquaculture, food, machinery manufacturing, construction materials, information technology, tourism, etc. With a good traditional friendship and cooperation agreements in most fields, the potential for bilateral economic cooperation will be strongly exploited and the target of 2 billion USD in trade turnover between the two countries will certainly be achieved in the near future.
| "With the good traditional friendship and cooperation agreements in most fields, the potential for bilateral economic cooperation will be strongly exploited and the target of 2 billion USD in trade turnover between the two countries will certainly be achieved in the coming time." |
At the 2nd session of the Political Consultation between Vietnam and Bangladesh last May, Bangladesh affirmed that there will be many incentives for Vietnamese investors. What suggestions does the Ambassador have for Vietnamese businesses wanting to invest in Bangladesh?
After 6 years of interruption, the second Vietnam-Bangladesh Political Consultation (led by Deputy Foreign Minister Do Hung Viet on the Vietnamese side) recently took place in Dhaka, Bangladesh, and was a great success.
At this meeting, you welcomed Vietnamese enterprises to invest in Bangladesh in the fields of information technology, software, food processing, etc.; said that Bangladesh currently has about 100 industrial parks, software parks, and high-tech parks with many incentives (however, so far only about 16 industrial parks have come into operation).
As an emerging market with a lot of potential but with many differences in policies and laws with Vietnam, including in terms of religion, culture... Vietnamese enterprises when planning to invest in Bangladesh need to carefully understand the market, policies, and laws on investment and business in Bangladesh, especially tax policies, profit transfer mechanisms, and related administrative procedures... Thoroughly understanding partners and being strict in signing business contracts are important factors when investing and doing business in the Bangladesh market.
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