Bangladesh and Vietnam will increase the volume of annual bilateral trade to $1 billion by 2016.
This decision was taken during a bilateral meeting between Bangladesh President Abdul Hamid and Vietnamese President Truong Tan Sang at Presidential palace in Vietnam on Monday, reports BSS.
In this regard, the both countries agreed to remove all trade related barriers and establish physical connectivity for their mutual benefits.
According to foreign ministry of Bangladesh, the existing trade volume between the two countries is less than $700 million.
From July-June in 2014-15, Bangladesh exported goods worth $32.77 million to Vietnam while Vietnam exported $318.4 million to Bangladesh.
The two leaders also agreed in principle to hold the meeting of Joint Economic Commission regularly, exchange of market information and practice, cultural tourism exchange, combating transitional crimes and irregular migration and to work together in the regional and international forum.
During meeting, Hamid said Dhaka is eagerly looking forward to connect itself to the ASEAN Economic Corridors and Vietnam's support in this regard will deeply be appreciated.
In reply, the Vietnamese president said his country will support Bangladesh in this regard and advised to take support of the other members’ countries of ASEAN as it is given through the consensus of all member countries.
During the bilateral talks with his Vietnamese counterpart, Abdul Hamid said Bangladesh offers very liberal investment and incentives to attract foreign investment.
Apart from the Export Processing Zones, Bangladesh is also offering Special Economic Zones where investors would get conducive environment for setting up industrial units, he added.
Abdul Hamid invited his counterpart to visit Bangladesh at a convenient time.
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