(VOVworld) – An international conference on prospects for economic cooperation between Vietnam and Middle East and African nations opened in Hanoi on Tuesday.

Deputy Prime Minister Vu Van Ninh said Vietnam wants to promote its traditional friendship with countries in the Middle East and Africa. Two-way trade increased from 2 billion USD in 2005 to 16 billion USD in 2014. The figure in the first 7 months of this year was 8.7 billion USD.

 
Mr. Ninh said: “The Vietnamese government is committed to creating favorable conditions for foreign investors including those from the Middle East and Africa. The Vietnamese government will make it easier for Vietnamese businesses to increase cooperation and investment in the Middle East and Africa, which has a strategically important location and rich natural resources.  With a total area of 36 million square kilometers and a 1.5 billion population, this area is a potential market for investment and cooperation.”