ASTANA, Kazakhstan, September 25. Kazakhstan sees great potential in increasing exports to Vietnam across 100 commodity items worth over $600 million, said Deputy Prime Minister of Kazakhstan Serik Zhumangarin during a meeting with First Deputy Chairman of the National Assembly of the Socialist Republic of Vietnam Nguyen Hac Dinh, Trend reports.
"One of the promising areas of cooperation is agriculture. Kazakhstan is one of the ten largest exporters of grain and flour. Increased exports of oilseeds to 1 million tons. We see great potential in increasing exports to Vietnam across 100 commodity items worth over $600 million. We invite our Vietnamese partners to implement joint investment and technological projects in the agricultural sector and metallurgy," he said.
The Deputy PM noted the great potential for cooperation in the fields of rare earth metals and the textile industry.
"As far as we know, semiconductor manufacturing is growing rapidly in Vietnam. We invite Vietnamese companies to actively cooperate in this direction. Also a very promising area is the textile industry and the production of leather products, in which Vietnam has a wealth of experience. Taking into account our plans to create a cotton cluster in the south of Kazakhstan, we could create a joint production in this area," he added.
Trade turnover between Kazakhstan and Vietnam in 2022 amounted to $528.3 million, which is 23.9 percent higher than in the same period of the previous year ($426.2 million). Exports from Kazakhstan to Vietnam in 2022 increased by 54.8 percent ($125.4 million) and imports by 16.7 percent ($402.9 million).
Trade turnover between Kazakhstan and Vietnam from January through July 2023 amounted to $686.9 million, which is 3.4 times higher than for the same period of the previous year ($204.5 million).