President Urges Setup of Vietnam-Saudi Arabia Business Counci

President Nguyen Minh Triet urged the early establishment of Vietnam-Saudi Arabia Business Council to facilitate the bilateral cooperation in economy, trade and investment, which the Southeast Asian country treasures one out of priorities in its foreign policy towards the Middle East.

President Triet made the proposal at his reception given to a visiting delegation of Saudi Arabian companies May 28.

The visit resulted from the agreements between President Triet and King Abdullah Bin Abdul Aziz Al Saud in the former’s Saudi Arabia trip in April, the Vietnamese government said on its website at the weekend.

The Arabian businessmen told President Triet they are interested in tourism, agriculture, oil and gas and labor fields.

Currently, there are 15,000-20,000 Vietnamese laborers in Saudi Arabia while the Gulf country receives 70,000-80,000 guest workers monthly.

The guests recommended Vietnamese laborers should be provided more information relating to culture, society and customs of the Middle East nation.

They also highlighted some existing shortcomings on economic ties including no direct flights, visa for Arabian businessmen and tourists.

Vietnam-Saudi Arabia trade surged 58% from a year earlier to $460 million in 2009.

The two countries signed a number of cooperative agreements in the fields of double taxation avoidance, oil and gas and mineral exploitation, agriculture, husbandry and aquaculture in April.

Tags: Vietnam Saudi Arabia cooperation, Vietnam Saudi Arabia trade