Kazakhstan and Vietnam to Enhance Trade and Economic Relations
Strengthening Trade Relations: Kazakhstan and Vietnam’s Commitment
ASTANA – On May 6, Kazakh Prime Minister Olzhas Bektenov met with Tô Lâm, General Secretary of the Communist Party of Vietnam Central Committee, to strengthen the bilateral trade and economic relationship between Kazakhstan and Vietnam. This significant meeting underscored their mutual commitment to enhancing collaboration, as reported by the Prime Minister’s press service.
Kazakh-Vietnamese business roundtable. Photo credit: primeminister.kz
In the same vein, a Kazakh-Vietnamese business roundtable was hosted in Astana, bringing together government representatives, business leaders, and various stakeholders to identify new avenues for partnership.
Trade and Investment Goals
During the discussions, both parties expressed their intent to elevate their trade turnover to $2 billion. Kazakhstan highlighted its readiness to export 35 categories of products to Vietnam, spanning the petrochemical, metallurgical, chemical, mechanical engineering, and food sectors.
At present, 13 Vietnamese companies are operational in Kazakhstan, indicating robust trust in the country’s business milieu and a sustainable partnership framework.
Agricultural Cooperation
The agricultural trade between Kazakhstan and Vietnam increased by 3.5% last year, with Kazakh exports growing an impressive 15-fold. Both nations acknowledged the opportunity for further collaboration, particularly in the realms of scientific knowledge exchange and the implementation of modern agricultural technologies to boost yields.
Kazakhstan aims to enhance its agro-industrial sector, targeting a 70% share of processed products within three years. To facilitate this growth, the country plans to open 29 poultry meat plants and 11 egg processing facilities, inviting Vietnamese partners to partake in joint ventures that employ water-saving technologies.
Transport and Digital Cooperation
In the transport sector, cooperation along the Trans-Caspian International Transport Route was emphasized, as it promises to significantly reduce delivery times for Vietnamese goods, thereby enhancing bilateral trade.
Moreover, in aviation, Qazaq Air and VietJet formalized an agreement to launch the VietJet Qazaqstan brand, marking a significant advancement in air transport links.
Discussions also covered digital transformation. Kazakhstan ranked 24th globally in the e-government index and is recognized among the top ten countries for the quality of its online services. Vietnam, a leader in information technology, is poised to become a strategic partner for Kazakhstan in the development of digital public services, artificial intelligence, and technology exchange.
The collaborative efforts demonstrated by both countries reflect a shared vision for a prosperous and interconnected future, underscoring their commitment to economic growth and mutual benefit.
