Azerbaijan to provide nanotechnologies for Vietnam's oil & gas industry (Exclusive)
Baku, Azerbaijan, June 21
By Ilkin Shafiyev - Trend:
Azerbaijan will provide Vietnam with nanotechnologies for their use in the development of oil and gas fields by national oil companies, a source in the government told Trend.
The source specified that this is stipulated in the protocol of the second meeting of the joint intergovernmental commission for economic, trade, scientific and technical cooperation.
The document was signed in Baku by the co-chairmen of the commission - the Minister of Energy of Azerbaijan Parviz Shahbazov and the Minister of Industry and Trade of Vietnam Tran Tuan Anh.
The parties also agreed on cooperation in developing and studying the innovative technologies in this field, according to the source. The possibilities of cooperation between the parties on energy efficiency, use of alternative and renewable energy sources, as well as construction and installation of small hydro power plants will be explored, the source added.
Azerbaijan's trade turnover with Vietnam in January-April 2018 amounted to $15.86 million, according to the State Customs Committee of Azerbaijan. The export of Azerbaijani products to Vietnam amounted to approximately $630,000.
During the year, trade between the two countries increased by 65.2 percent.