Vietnamese PM concludes his trip to Turkiye today
Vietnamese Prime Minister Pham Minh Chinh concludes his state visit to Turkey today.
Pham—the first Vietnamese PM to lead a delegation to Turkey—met with Turkish President Recep Tayyip Erdogan and other elected officials. Turkey is Vietnam’s leading trade partner in the Middle East, with bilateral trade topping $2 billion last year. On this trip, Pham and his Turkish counterpart, Vice President Cevdet Yilmaz, agreed to increase bilateral trade to $4 billion.
Turkey, the Middle East’s largest foreign investor, is poised to boost bilateral trade with Vietnam, as joint ventures with experienced Turkish firms provide Vietnamese companies with valuable project management experience. The Turkish-led consortium which won a bid to build the landmark Long Thanh international airport is an exemplar of such investment cooperation where the Turkish firm IC Istas leads a group of 10 Vietnamese companies. Collaborations like these offer a realistic prospect for enhancing economic ties between the two countries.
Expect further joint ventures, such as a potential Turkish-Vietnam joint airline venture, to facilitate a major component of bilateral trade growth in the near-to-medium-term future. Such ties will be a gateway for Turkey to further increase trade growth within ASEAN.
