Prime Minister Pham Minh Chinh has suggested that Vietnam and the Philippines strive to soon record annual two-way trade revenue of $10 billion, the Government News has reported.
While receiving Secretary of Foreign Affairs of the Philippines Enrique A. Manalo in Hanoi on August 2, Prime Minister Chinh proposed that the two countries take measures to promote economic and trade cooperation, including rice trading, create favorable investment and business environments, and consider removing unnecessary obstacles and support each other in ensuring food security.
The two countries should boost cooperation in other fields of potential, such as the digital economy, the circular economy, the green economy, renewable energy, climate change, innovation, sea-based economy, and startups, the Prime Minister said.
Secretary Manalo stressed the importance of agricultural cooperation and rice trade to ensure food security, and agreed to share experience in promising fields of interest to the two countries, as suggested by Prime Minister Chinh.
Two-way trade hit nearly $8 billion last year.
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