Vietnamese Ambassador to Saudi Arabia Dang Xuan Dung (Photo credit: Vietnamese Embassy)

Talking to VOV’s correspondent in the Middle East about the outcomes of PM Pham Minh Chinh’s trip to visit Saudi Arabia and attend the ASEAN-GCC summit, Dung said the Ministry of Foreign Affairs and the GCC Secretariat signed a Memorandum of Understanding on cooperation in various fields, which creates a foundation for the two sides to further strengthen relations in the future.

“Trade and economic cooperation promises to bring in practical benefits to businesses and peoples of the two countries. We hope that bilateral trade will increase from 2.7 billion USD last year to 3.5 billion USD this year and will soon reach 5 billion USD in the next few years as Prime Minister Pham Minh Chinh told partners during this visit,” said Dung.

He added that the existing and soon-to-be-signed agreements will help increase export of farm produce, seafood, food, textiles, furniture, and handicrafts to Saudi Arabia.

More particularly, exports will likely include high-tech products designed and manufactured by Vietnamese engineers.