OREANDA-NEWS. On July 02, 2008 modest results in trade between Vietnam and Uzbekistan were largely due to a lack of commercial information, said delegates at a trade seminar held in Hanoi, reported the Official website www.investuzbekistan.uz.

Enterprises from the two nations had yet to learn about one another's potentials, said Deputy Minister of Uzbekistan's Foreign Economic Relations, Investments and Trade N. Najimov.

In March, a large delegation of Vietnamese firms visited Uzbekistan to study cooperation opportunities, and the Uzbekistan government pledged to create favourable conditions for Vietnamese firms to establish joint ventures in the country.

Tax incentives would be given to the establishment of joint ventures in such sectors as textiles and garments, crude oil, footwear, machine manufacturing, beverage and canned fruit production, construction materials, and chemicals and pharmaceuticals, the deputy minister said.
Vietnam had always attached importance to cementing comprehensive ties with Uzbekistan, said Deputy Minister of Industry and Trade Le Danh Vinh.

The two countries have signed several agreements pledging to promote cooperation in the fields of economy and trade, investment, science and technology, and tourism.

Vietnam could supply Uzbekistan with clothing, footwear, agricultural products such as tea, coffee, pepper and rice, fine arts and handicrafts, while Uzbekistan had plentiful cotton, chemicals, machines and equipment.

Deputy Minister Vinh described the 2 July event as a valuable chance for enterprises from the two countries to explore cooperation opportunities in trade and investment.

Bilateral trade between the two nations was USD 6,6 million last year, Vietnam News reported.