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Gulf Press > Gulf > Qatar > Trade volume between Qatar and Vietnam increases to $770 million
Qatar

Trade volume between Qatar and Vietnam increases to $770 million

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Last updated: 2024/05/20 at 1:44 AM
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Qatar and Vietnam have strengthened their relations in various areas such as diplomacy, culture, and trade. According to the Vietnam Ambassador to Qatar, H E Tran Duc Hung, the trade volume between the two countries saw a significant increase last year, reaching $770 million. This is a substantial rise from the $400 to $500 million recorded in 2022. The exchange visits at various high levels from both sides’ leadership have cemented bilateral relations, with the signing of an agreement on mutual visa exemption for diplomatic officials and special passport holders in August 2022 playing a crucial role in boosting relations.

Last year marked the 30th anniversary of diplomatic ties between Qatar and Vietnam. To commemorate this milestone, the Embassy of Vietnam organized a series of cultural events, including film screenings and art performances, to strengthen the bonds between the peoples of both nations. Additionally, Vietnam showcased its top agricultural products such as rice, pepper, cashew nuts, and agarwood at AgriteQ 2023 and International Horticultural EXPO 2023 Doha, highlighting the collaboration with Qatari companies in these events.

Ambassador Hung emphasized Vietnam’s collaboration with Qatari companies in various sectors, including energy and construction. Petrovietnam, a state-owned company, has been engaged in a number of energy-related service and LNG contracts with its Qatari counterparts. Vietnam has also provided Qatar with 500 skilled laborers in fields like energy and construction. The envoy stressed the growing importance of energy, labor, and investment cooperation in the bilateral relationship, with efforts underway to revive cooperation mechanisms like the Joint Committee on economic, trade, and technical cooperation.

The Ambassador highlighted the priorities in developing bilateral labor cooperation to meet the current demand in Qatar. He mentioned that Qatar Airways is operating successfully in Vietnam, and the Qatar Investment Authority has invested hundreds of millions of USD in the Vietnamese market. Ambassador Hung expressed hope for the Amir H H Sheikh Tamim bin Hamad Al Thani to visit Vietnam at a suitable time. His tenure in Doha will conclude this May after his retirement after over 30 years in public service, with previous diplomatic roles in Singapore and the United States of America.

In conclusion, the relationship between Qatar and Vietnam has seen significant progress in various fields, with a notable increase in trade volume and cultural exchanges. The signing of agreements and collaborations in key sectors such as energy, labor, and investment have strengthened the bilateral relationship. As Ambassador Hung concludes his tenure in Doha, the hope for continued cooperation and future high-level visits between the two nations remains strong.

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News Room May 20, 2024
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