Vietnam eyes $12b trade with Kuwait

Ambassador of Vietnam to Kuwait Nguyen Duc Thang and Assistant Foreign Minister Ambassador Hamad Al- Mashaan cutting the cake.

Present at the event were Assistant Foreign Minister Ambassador Hamad Al-Mashaan, ambassadors, diplomats, representatives of government agencies and companies, and members of the Vietnamese community. According to the Ambassador both nations have opportunities to solidify cooperation in different sectors, such as energy, food security, digital transformation, finance, logistics, education and tourism. He said Kuwait was the first Gulf state to establish diplomatic relations with Vietnam in January 1976. He stressed that his country deeply values the supportive stance of Kuwait toward the Vietnamese during the war years, as well as its contributions to the reconstruction and development efforts following the restoration of peace.

He expressed appreciation for the loans provided by Kuwait Fund for Arab Economic Development (KFAED) to support infrastructure and socioeconomic development projects in many Vietnamese provinces and for Kuwait's donation of 600,000 vaccine doses during the COVID-19 pandemic. He said these gestures embody a friendship cemented by various activities within half a century. He added that Kuwait is the largest trading partner of Vietnam in the Middle East and Africa, with the annual volume of trade between the two countries ranging between $7 billion and $7.5 billion over the past three years. He then affirmed that Kuwaiti-Vietnamese relations are based on mutual trust, friendship and interests, hoping for more growth and prosperity in the partnership of the two countries.