Vietnam is actively working to enhance its trade and investment relationships with both the Eurasian Economic Union (EAEU) and Egypt, emphasizing the importance of increasing market access and fostering economic collaborations. Vietnamese Vice President Võ Thị Ánh Xuân has advocated for the expanded utilization of the Vietnam-EAEU Free Trade Agreement as a means to boost bilateral trade and investment. She pushed for potential upgrades to the agreement and urged the EAEU to tackle existing trade barriers that impact Vietnamese exports such as textiles, footwear, and rice.
In discussions with EAEU officials, there was a mutual commitment to improving trade data coordination, facilitating the meetings of their joint committee, and promoting the use of electronic certificates of origin. The EAEU representatives noted that bilateral trade figures had nearly doubled, indicating substantial opportunities for further growth in economic interactions. This collaborative effort highlights a strategic push to maximize the benefits from their existing agreements and explore new avenues for cooperation.
In a separate engagement, Vice President Xuân met with Egyptian Deputy Prime Minister for Economic Affairs, Hussein Mohamed Ahmed Eissa, where she underscored the need for more high-level exchanges and deeper economic ties between Vietnam and Egypt. Xuân highlighted the potential benefits of pursuing a Vietnam-Egypt free trade agreement, identifying key sectors such as agriculture, infrastructure, tourism, digital transformation, education, and renewable energy as promising areas for enhanced collaboration.
These discussions took place in Bishkek, coinciding with Vietnam’s participation in the Shanghai Cooperation Organisation Plus Summit. This aligns with Hanoi’s broader strategy to fortify its economic and diplomatic connections with regional partners. By engaging in dialogue with both the EAEU and Egypt, Vietnam is positioning itself to expand its international trade reach and solidify its role as a proactive participant in regional economic development.