Vietnam is actively pursuing enhanced trade and investment cooperation with the Eurasian Economic Union (EAEU) and Egypt, aiming to open up market access and bolster economic partnerships. In a strategic move, Vietnamese Vice President Võ Thị Ánh Xuân emphasized the importance of maximizing the Vietnam-EAEU Free Trade Agreement to boost bilateral trade and investment. She suggested potential upgrades to the agreement and urged the EAEU to address existing trade barriers that are impacting Vietnamese exports such as textiles, footwear, and rice.
The discussions between the two parties also covered the need to improve trade data coordination, expedite joint committee meetings, and increase the use of electronic certificates of origin. Officials from the EAEU noted the significant growth in bilateral trade, which has nearly doubled, and pointed out further areas ripe for development. These efforts are seen as part of a broader strategy to capitalize on the existing trade framework and foster economic growth.
In a separate engagement, Vice President Xuân met with Egyptian Deputy Prime Minister for Economic Affairs Hussein Mohamed Ahmed Eissa. She advocated for more robust high-level exchanges and deeper economic ties between Vietnam and Egypt. Xuân highlighted the potential for a Vietnam-Egypt free trade agreement and identified key sectors for collaboration, including agriculture, infrastructure, tourism, digital transformation, education, and renewable energy.
The discussions took place in Bishkek during Vietnam’s participation in the Shanghai Cooperation Organisation Plus Summit. This participation underscores Hanoi’s commitment to strengthening economic and diplomatic relationships with regional partners. By engaging with both the EAEU and Egypt, Vietnam seeks to expand its economic network and explore new avenues for trade and investment, aligning with its broader strategy of international cooperation and market diversification.