Bilateral trade value between Kuwait & Vietnam targets $2 bln by 2020

The Consulate General of the State of Kuwait in Ho Chi Minh City yesterday organized the 57th Anniversary of the Independence Day and the 27thAnniversary of the Liberation Day of the State of Kuwait in Ho Chi Minh City.

The Consul General of the State of Kuwait in HCMC, Khaled Falah Al-Mutairi gives a speech at the meeting

The Consul General of the State of Kuwait in HCMC, Khaled Falah Al-Mutairi gives a speech at the meeting

A formal ceremony is to celebrate the Independence Day and the Liberation Day of the State of Kuwait with the participation of distinguished guests including Ho Chi Minh City leaders and agencies of the city, diplomats from the Consular Corps, representatives from provinces in the South of Vietnam, representatives of international organizations and academic institutions, Chambers of Commerce and Industry, entrepreneurs, Kuwaiti expatriates, etc.

Since being established in 1976, the bilateral relationship between the State of Kuwait and Vietnam has been continuously strengthened and strongly promoted on the foundation of friendship, mutual respect and understanding, as well as a strong solidarity between the peoples of the two countries. The two countries are now concentrating on boosting cooperation in some areas, such as economy, trade and investment, education.

The two-way trade value between Kuwait and Vietnam in 2017 reached around US$350 million, a nearly-double increase compared to US$184 million of 2016.

Speaking at the meeting, Mr. Khaled Falah Al-Mutairi, Consul General of the State of Kuwait in HCMC shared that the State of Kuwait is holding the position as the Chairman of the United Nation Security Council in February 2018. The State of Kuwait is currently a non-permanent member of the United Nation Security Council for a two-year term starting from January 2018 after receiving 188 votes out of the 192 ballots during the meeting of the United Nation Assembly held on June 2, 2017.

Vietnam and Kuwait are becoming strategic partners in the oil and gas sector, with the Nghi Son Refinery Project as a flagship and much more potential for long-term and mutually beneficial cooperation. Idemitsu Q8, a joint venture between Kuwait Petroleum International (KPI) and Idemitsu Kosan of Japan opened their first fuel-service station in Vietnam in October 2017, contributing to the increase in the bilateral trade value between Kuwait and Vietnam in the coming years to reach the target of US$2 billion by 2020 as set by our two governments.

“The Consulate General of the State of Kuwait has continuously supported the University of Social Sciences and Humanities in Ho Chi Minh City in the establishment of the first Arabian Studies discipline and regularly provided free reading materials in Arabic to the University as well. The Kuwait Government has also granted 16 scholarships to Vietnamese students for studying Arabic language at the Kuwait University. I believe that after finishing their study in Kuwait, these students will contribute to the development of Vietnam as well as play the role as a bridge, with their knowledge in the language and culture of Kuwait, to connect people of our two countries closer and closer”, added the Consul General.

By Van Ha

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