VGP - The Viet Nam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade and the Uruguay’s Investment, Export and Country Brand Promotion Agency inked a memorandum of understanding (MoU) on trade and investment promotion on August 14 in Ha Noi. 

The Viet Nam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade and the Uruguay’s Investment, Export and Country Brand Promotion Agency ink a memorandum of understanding (MoU) on trade and investment promotion on August 14 in Ha Noi

 This is one of efforts which aim to realize commitments between the two nations at the first session of the Viet Nam-Uruguay Joint Committee on economic, trade and investment cooperation in October 2018 in Montevideo, Uruguay. 

Speaking at the ceremony, head of the Vietrade Vu Ba Phu said that the MoU creates an opportunity and facilitates the two nations’ enterprises to strengthen trade and investment promotion activities, thus raising the two-way trade value. 

According to the statistics of the Ministry of Industry and Trade, the two-way trade value in 2018 hit US$140 million, up 19% compared to the previous year. 

Viet Nam’s exports and imports from Uruguay were estimated at US$82 million and US$58 million, respectively.