Viet Nam, Mongolia to further boost economic ties

The Vietnamese Ministry of Trade and the Mongolian Ministry of Industry and Trade should set up a direct link and sign a memorandum of understanding to resume the goods bartering and to increase two-way trade value to 5 million USD in the coming years.

The suggestion was made by delegates to the 12th session of the Viet Nam-Mongolia Inter-Governmental Committee on economics, trade and scientific-technological cooperation that was held in Ulan Bator, Mongolia, from Dec. 18-21.

The Vietnamese delegation was led by Deputy Minister of Agriculture and Rural Development Bui Ba Bong and the Mongolian delegation was headed by Minister of Roads, Transportation and Tourism Tsegmid Tsengel.

The two sides agreed that Viet Nam should facilitate Mongolia to export fleece, semi-processed leather, wool, herbs and other traditional commodities while importing rice, vegetable oil, tea, coffee, dried fruits and other farm products and consumer goods from Viet Nam.

Both sides spoke of difficulties in the transport of goods by railways and payment methods as well as other hindrances to their bilateral economic and trade cooperation.

They discussed prospects for the two countries' economic, trade and scientific-technological cooperation in the 2006-08 period.

The delegates also put forward solutions to increase bilateral cooperation in animal husbandry, cultivation, infrastructure construction, education, training, culture, arts, science-technology, health care, tourism and search and rescue as well as to establish ventures in timber processing and wood products for exports./.(VNA)

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