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Vietnam Today

Kazakhstan & Vietnam developing solid relations

Released at: 10:22, 25/10/2018

Kazakhstan & Vietnam developing solid relations

Photo: Hai Van

Cooperative opportunities promoted at press conference on October 24.

by Hai My

Speaking at a press conference on cooperative opportunities between the two countries in Hanoi on October 24, Ambassador of Kazakhstan in Vietnam H.E. Beketzhan Zhumakhanov said the two have been developing good relations for many decades and celebrated the 25th anniversary of diplomatic relations last year (1992 - 2017).

According to Ambassador Zhumakhanov, the official visit to Vietnam by Kazakhstan President Nursultan Nazarbayev in October 2011 as well as a visit to Kazakhstan by former President Truong Tan Sang in September 2012 and the visit to Kazakhstan in October 2017 by National Assembly Chairwoman Nguyen Thi Kim Ngan created new impetus for bilateral relations.

The two sides are keen to strengthen the multi-faceted relationship in all fields, including politics, economics-commerce, culture, tourism, and security. At international conferences, Vietnam and Kazakhstan have agreed and supported each other’s views on many issues.

Vietnam is now an important trading partner of Kazakhstan in Southeast Asia, with the implementation of a free trade agreement (FTA) between Vietnam and the Eurasian Economic Co-operation. According to figures from Kazakhstan Customs, total bilateral trade turnover in 2017 reached $542.7 million, up 48 per cent against 2016.

In order to promote bilateral economic and trade relations, Kazakhstan has proposed that the two sides attach importance to the implementation of cooperation in the field of transport and logistics, in particular the idea of establishing specific routes. Rail transport between Vietnam and Kazakhstan would help reduce the reliance on shipping and shorten the time needed to transport goods from Vietnam to Europe and vice-versa.

Ambassador Zhumakhanov emphasized that Kazakhstan always welcomes Vietnamese businesses to invest and do business in Kazakhstan. The country also greatly appreciates Vietnam’s support and facilitates its businesses in seeking opportunities for cooperation and business.

Agriculture is a field of major potential and where both sides could strengthen cooperation in order to take advantage of each other’s strengths and soil conditions. He announced that Kazakhstan officially opened its Astana International Financial Center (AIFC) in July. The AIFC is the only new generation financial center in the region that is built on the British legal system and offers many tax advantages, simplified visa regimes, and foreign exchange services. The Ambassador expressed a hope that, in the future, many Vietnamese enterprises will sign up and become partners of AIFC.

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