High-tech parks, electric vehicles, and the military industry hold high potential for cooperation between Vietnam and Turkey as the two countries look to upgrade their relations.
At a meeting with Turkish Minister of Industry and Technology Mehmet Fatih Kacir in Ankara on November 30, Vietnamese Prime Minister Pham Minh Chinh suggested Turkey explore investment opportunities and share management experience in operating industrial zones (IZs) and high-tech parks in Vietnam.
Both sides could discuss this matter in detail at the upcoming eighth session of the Intergovernmental Committee, Chinh said.
Hailing Turkey as the biggest direct investor from the Middle East in Vietnam, the Vietnamese PM welcomed and pledged favorable conditions for Turkish businesses in the country.
In response, the Turkish minister expressed interest in improving cooperation with Vietnam in areas of his country’s strengths such as IZs, high-tech parks, industry, high technology, automation, the defense industry, automobile manufacturing, and satellite technology.
He suggested stepping up collaboration between Turkish electric vehicle (EV) manufacturers and Vietnamese partners.
At a separate meeting with Turkish Minister of Budget and Finance Mehmet Simsek the same day, PM Chinh reiterated the call for negotiations on a bilateral free trade agreement (FTA), removal of trade barriers for Vietnamese exports, and recognition of Vietnam as a market economy.
Chinh also asked the Turkish side to increase the sharing of experience with Vietnam in building fiscal and monetary policies.
For his part, Minister Simsek agreed with cooperation directions set by the PM. He underscored the importance of combining efforts to enhance exchanges through promoting air connectivity, easing visa requirements, and opening branches of commercial banks in Vietnam.
The minister stressed the need to reduce protective measures to facilitate trade cooperation, initiate FTA negotiations to create breakthroughs in bilateral trade, and encourage Turkish enterprises to engage more in infrastructure development investment projects in Vietnam.
Also on Thursday, Chinh visited Turkish Aerospace Industries in Ankara and held a working session with the firm's executives to explore measures to promote bilateral cooperation in the defense industry.
He suggested the two sides explore opportunities to enhance cooperation in a manner that aligns with the needs and capacity of each country, particularly in the field of defense.
After concluding a two-day visit to Turkey on Thursday, PM Chinh and the entourage left Ankara for Dubai, the United Arab Emirates (UAE) to attend the World Climate Summit in the framework of COP28 and conduct bilateral activities at the invitation of the UAE government.