Hanoi (VNA) – Vietnam and Cubaagreed to boost the balanced development of bilateral trade and promoteVietnamese investment in the Caribbean nation during the 37th session of theirIntergovernmental Committee that concluded on September 12.

At the closing ceremony, Vietnamese Minister ofConstruction Pham Hong Ha said during the four-day session, the two sidesreviewed the implementation of the 36th session’s minutes.

They shared the view that most of cooperationagreements have been carried out, helping fuel bilateral trade in 2018 by 25percent year on year and turning Vietnam into the second biggest Asian tradepartner of Cuba. Some investment projects of Vietnamese businesses in Cuba havebeen implemented actively. Additionally, connections in agriculture, healthcare, science-technique, culture-education, and information-communications havebeen improved.

However, Ha noted, both sides also pointed outthat there remain many difficulties in trade and investment partnerships,including those relevant to payment, collateral, labourers’ salary, andmaterial supply. They agreed to make efforts to resolve those problems as soonas possible.

During the meeting, officials agreed that forthe time ahead, bilateral cooperation will focus on raising trade revenue,including boosting Cuba’s export to Vietnam, so as to achieve balanced tradewhile facilitating the implementation of Vietnamese firms’ investment projectsin Cuba.

The countries will also effectively carry outthe signed cooperation projects on agriculture and encourage the two businesscircles to partner in seed plant production and aquaculture. Collaboration ininformation-communications, health care, and other fields will also continue tobe expanded.

Minister Ha said the co-chairpersons of theIntergovernmental Committee were unanimous in the need to further improve thecommittee’s operations in a practical and substantive manner. They also agreedon some new points in the cooperation agreements in various areas.

During their stay, the Cuban delegation met withPrime Minister Nguyen Xuan Phuc and had working sessions with key officials ofthe Vietnamese ministries of health, industry and trade, and planning andinvestment, and Quang Tri province, and executives of some businesses.

At those events, the two sides showed thedetermination to further enhance multi-faceted cooperation between thecountries’ ministries, sectors and enterprises, thus bringing bilateral economicties on par with the political and diplomatic relations between Vietnam andCuba.

Highlighting the 37th session’s success, CubanMinister of Foreign Trade and Foreign Investment Rodrigo Malmierca Diaz saidboth sides agreed to make utmost efforts to carry out the new trade cooperationdeal soon, especially the bilateral economic agenda for 2020-2025, and togetherseek solutions to issues emerging during the implementation ofVietnamese-invested projects in Cuba.

The countries will continue promoting ties inagriculture, food industry, and science-technique. They will also keepfostering the export of Cuban goods and services, especially medical services,to Vietnam, he noted.

The minister affirmed the commitment to stronglyand effectively realising the agreements reached at the 37th session so as toreinforce economic-trade links between the two nations./.