Hanoi: Bangladesh and Vietnam have decided to take steps to increase the volume of annual bilateral trade to US$1,000 million by 2016 as the both countries agreed to remove all trade related barriers and establish physical connectivity for their mutual benefits.
The decision was taken during a bilateral meeting between Bangladesh President Abdul Hamid and Vietnamese President Truong Tan Sang at Presidential palace Monday.
During the 80-minute meeting, the two presidents agreed to work more closely for the mutual benefits for the people of the two countries, President's Press Secretary Joynal Abedin said after the talks.
According to foreign ministry of Bangladesh, the existing trade volume between the two countries is less than $700 million. From July-June in 2014-15, Bangladesh exported goods worth $32.77 million to Vietnam while Vietnam exported $318.4 million to Bangladesh.
Both the leaders agreed on the importance of establishing regular foreign office consultation between the two countries at the earliest to ensure close cooperation, the press secretary added.
During the bilateral talks with his Vietnam counterpart, Abdul Hamid assured that any investment from Vietnam would be given the highest priority and related requirement will be attended with due care.
He said Bangladesh offers very liberal investment and incentives to attract foreign investment. Apart from the Export Processing Zones, Bangladesh is also offering Special Economic Zones where investors would get conducive environment for setting up industrial units, he added.
Recalling the visit of Bangladesh Prime Minister Sheikh Hasina to Vietnam in 2012, Abdul Hamid said that the visit generated considerable impetus to the overall bilateral relations of the two countries.
Mentioning that the Vietnam gives importance to the relations with Bangladesh, the President of Vietnam said, "I am sure the visit of Bangladesh President will be a milestone for the bilateral relations between Bangladesh and Vietnam."
The Vietnamese President thanked Bangladesh government for political stability and continuous prosperity.
Abdul Hamid said "Like the great leader of Vietnam Ho Chi Minh, our Father of the Nation Bangabandhu Sheikh Mujibur Rahman was deeply committed to build a prosperous nation. It gives me immense joy that the both countries are advancing fast to fulfill the dreams of their great leaders."
Earlier on their arrival of the Presidential palace, Abdul Hamid and his spouse Rasheda Khanom were given a grand reception by Vietnamese President Truong Tan Sang and madam Mai Thai Hanh at the Presidential palace.
A group of tiny tots clad in white and red waved flags of Bangladesh and Vietnam standing in line on both sides of the road inside the Presidential Palace when Abdul Hamid and his spouse entered the palace in a motorcade.
Vietnam President Truong Tan Sang and madam Mai Thai Hanh received Abdul Hamid and his wife with bunch of flowers there.
Then President Abdul Hamid was led to the podium by his Vietnamese counterpart from where the two Presidents received an armed salute given by a smartly-turned out contingent of Vietnamese armed forces while the national anthems of Bangladesh and Vietnam were played on the occasion.
State minister for Foreign Affairs M Shahriar Alam, Bangladesh Ambassador to Vietnam Shahab Ullah, Ambassador of Vietnam to Bangladesh Nguyen Quang Thuc, were present.
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