“King Abdullah and Triet will also witness the signing of two major agreements, which will go a long way in boosting links between Riyadh and Hanoi,” said Dao Thanh Chung, Vietnamese ambassador, here yesterday. “These two proposed agreements will be signed by the two governments during the presidential visit.”
The first agreement is a draft accord for avoidance of double taxation and prevention of tax evasion, which is ready to be inked by the two sides. A protocol between the Kingdom and Vietnam to boost cooperation in oil, gas and mineral sector will also be signed during the visit, said Thanh Chung.
This agreement comes after the successful visit of Ali Al-Naimi, minister of petroleum and mineral resources, to Vietnam last year when he held talks with senior officials of the Vietnamese Ministry of Industry and Trade and had working sessions with the top management of the National Oil and Gas Group of Vietnam (PetroVietnam).
The signing of the accords will be in addition to the wide-ranging talks between King Abdullah and President Triet, which will focus on a range of political and commercial issues of common concerns.
A statement released on this occasion, said that Saudi Arabia has agreed to help Vietnam ensure its energy supplies to meet high demand.
Vietnam, in turn, has “great potential to export skilled and unskilled manpower to Saudi Arabia, while it can also help Riyadh to secure food security,” said the statement.
Recent efforts by Vietnam and Saudi Arabia indicated that there was room for more dynamic cooperation in trade and investment between the two countries, it noted. On a commercial front, Vietnam has been exerting efforts to boost trade and investment relations with Riyadh. Hanoi has also planned to open a trade bureau in Saudi Arabia besides the United States, Venezuela and Panama this year. The Southeast Asian country established diplomatic relations with the Kingdom in 1999.
The trade between Vietnam and Saudi Arabia exceeds $291 million annually, with Vietnamese exports topping $118 million. With more than 84 million people, the majority of which is within working age, Vietnam has great potential in the manpower sector. The Kingdom is currently looking at recruiting more workers, especially domestic aides from Vietnam, Nepal, Tunisia, and Morocco. Triet will also visit Tunisia and Algeria during this trip.

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