Vietnam, Cuba target $500mn trade in next 5 years
Vietnam, Cuba target $500mn trade in next 5 years
Vietnam and Cuba have agreed to boost two-way trade to US$500 million in the next five years, signed seven cooperative deals, and vowed to promote multifaceted cooperation, including agricultural production, food security, energy, biotechnology, health and tourism.
Vietnamese Party General Secretary and State President To Lam speaks at the talks with First Secretary of the Communist Party of Cuba Central Committee and President of Cuba Miguel Diaz-Canel Bermudez in Havana on September 26, 2024. Photo: Vietnam News Agency |
The agreement was reached between Vietnamese Party General Secretary and State President To Lam and First Secretary of the Communist Party of Cuba Central Committee and President of Cuba Miguel Diaz-Canel Bermudez at their talks in Havana on Friday afternoon (local time), as part of Lam’s state visit to the Caribbean country.
Diaz-Canel emphasized that the first state visit to Cuba by General Secretary and President To Lam as head of the Party and State of Vietnam is of special significance, demonstrating the great respect for the bilateral ties and the revolutionary solidarity of the two Parties and two countries, contributing to promoting the mutual trust and creating substantial changes for bilateral relations in the coming time.
The Cuban leader emphasized that the Party, State and people of Cuba highly value the traditional, special and loyal friendship with Vietnam, and will continue to unite with the Southeast Asian nation in the cause of socialist-oriented national development.
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| First Secretary of the Communist Party of Cuba Central Committee and President of Cuba Miguel Diaz-Canel Bermudez (R) speaks at the talks with Vietnamese Party General Secretary and State President To Lam in Havana on September 26, 2024. Photo: Vietnam News Agency |
Lam emphasized that this visit to Cuba once again affirms the strong determination of the Party, State and people of Vietnam in strengthening and improving the effectiveness of the close relationship, special solidarity and comprehensive cooperation between the two Parties and the two countries.
Diaz-Canel congratulated the great and historic achievements that the Party, State and people of Vietnam have achieved in its Doi Moi (Renovation) process over the past 40 years, and expressed his belief that Vietnam will continue gaining greater achievements and successfully realizing the goal of becoming a socialist-oriented developed country with high-income by 2045.
The two countries will promote economic cooperation and remove difficulties to push two-way trade to US$500 million in the next five years, while facilitating Vietnamese enterprises’ sustainable operations in Cuba in line with Cuba's investment attraction policy for economic development, the host and guest agreed.
Both leaders promised to direct each other’s relevant agencies to strengthen coordination in studying agricultural production cooperation models to support Cuba in increasing farm produce output, developing the agricultural sector, and ensuring food security.
Lam and Diaz-Canel agreed to expand cooperation in other fields including biotechnology, health, tourism, telecommunications, and construction, bolster connections between localities and people of the two nations, and continue to support and assist each other at international organizations and forums.
Diaz-Canel sincerely thanked the valuable support and assistance that the Party, State and people of Vietnam have given to their Cuban counterparts in the cause of building and defending the country, including support in the field of food security.
Lam affirmed that Vietnam consistently advocates lifting of the blockade and embargo against Cuba, and removing Cuba from the unilateral list of countries sponsoring terrorism.
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| An overview of the talks between Vietnamese Party General Secretary and State President To Lam (L) and First Secretary of the Communist Party of Cuba Central Committee and President of Cuba Miguel Diaz-Canel Bermudez in Havana on September 26, 2024. Photo: Vietnam News Agency |
Expressing satisfaction with the fruitful cooperation between the two countries in all fields, the two leaders emphasized the historical and spiritual similarities between Vietnam and Cuba and the strong relationship that has been built and forged over time by Vietnamese President Ho Chi Minh and Cuban Commander-in-Chief Fidel Castro.
Lam and Diaz-Canel pledged to continue to strongly develop the solidarity, friendship and comprehensive cooperation between Vietnam and Cuba to a new level in the spirit of companionship, cooperation, and mutual development, for the common cause of building socialism, for the sake of the two peoples, and for peace, cooperation and development in each region and the world.
They agreed to improve the effectiveness of the Vietnam-Cuba Intergovernmental Committee mechanism as well as other mechanisms in the fields of defense, security and foreign affairs.
Highlighting the need of maintaining peace, stability and development in the world, they shared the view that disputes must be resolved peacefully based on international law and the UN Charter, and emphasized that relations between countries must be built on respect for independence, sovereignty, equality, self-determination of peoples and the fundamental principles of international law, including respect for each other's territorial integrity and non-interference in each other's internal affairs.
The two leaders agreed to jointly direct agencies, organizations and localities of the two countries to thoroughly grasp and effectively implement the common perception and results of the visit.
Lam respectfully invited Diaz-Canel to visit Vietnam in 2025 and the latter happily accepted the invitation.
The talks wrapped up with the two leaders witnessing the signing of seven cooperation agreements between ministries and localities of the two countries.
They include a memorandum of understanding (MoU) on cooperation between the State Bank of Vietnam and the Central Bank of Cuba; an agreement to establish friendly and cooperative relations between Vietnam’s Vinh Phuc Province and Cuba’s Mayabeque Province; an MoU of cooperation between the administration of Vietnam’s Quang Tri Province and the Ministry of Public Health of Cuba; and a cooperation document between the Vietnamese Ministry of Agriculture and Rural Development and the Cuban Ministry of Agriculture, among others.
After the talks, the two sides launched a joint statement summarizing the contents and outcomes of Lam’s visit to Cuba.
