At the signing ceremony of the MoU. (Photo: VNA)The signing took place within the framework of the Vietnamvisit by President Khurelsukh and his spouse, said the Vietnamese Ministry ofIndustry and Trade (MoIT), noting the MoU is set to establish a comprehensivecooperation mechanism to ensure food supply and stabilise the rice market inboth countries.
The document is significant to implementing tasks setout by the Prime Minister to promote and diversify Vietnam's rice exportmarkets, while contributing to consolidating and promoting the bilateral traderelations, the ministry added.
Under the MoU, the Mongolian ministry will estimate thecountry’s rice import demand for the following year. On that basis, the MoIT willsupport connections with the private sector to export rice according toMongolia's needs.
The two sides will regularly organise exchange programmesand trade connections between rice importers and exporters to implement the MoUin general as well as promote rice trade exchange between the two countries'businesses in particular.
Statistics show that Mongolia is an early economic andtrade partner of Vietnam in Asia and around the world, with their first tradeagreement signed in 1958.
Vietnam is currently Mongolia's 11th largest tradepartner, with two-way trade growing 6.5% to 85.4 million USD last year./.
VNA
