On May 12, President of the Republic of Azerbaijan Ilham Aliyev and Secretary General of the Central Committee of the Communist Party of the Socialist Republic of Vietnam To Lam made statements to the press.
As a result of our joint efforts, there is a very serious potential for cooperation in trade, economy, culture, education, energy, transport and other areas. Issues in these and other areas were widely discussed today.

According to EDnews the documents signed in the energy sector and the discussions we have held give reason to say that we will further expand our cooperation in this area in the near future. Today, this cooperation exists and is carried out mostly in the form of trade cooperation. However, issues of mutual investment were also discussed.

The issues of investment by both Vietnamese companies in Azerbaijan and Azerbaijani oil companies in Vietnam were discussed and instructions were given that the relevant agencies take concrete steps on these issues.

The early holding of a meeting of the Intergovernmental Commission will further accelerate possible cooperation in these and other areas. The Commission meeting has not been held for many years, and based on the agreement reached, the issue of holding a meeting of the Commission soon has been resolved.

Unfortunately, the dynamics of Azerbaijan's trade turnover in the economic and trade direction depends on oil sales to Vietnam. When oil sales are at a high level, trade turnover increases, and when they decrease, it decreases. Of course, we would like to see our trade turnover in a more balanced form, and for this, of course, mutual information exchange is necessary. What projects are being implemented in our countries, what are the investment opportunities, rules, legislative framework, tax administration - all these issues should be clear to business circles. In this case, I am sure that trade turnover will not depend only on the oil factor.

Today, we also exchanged views on the production of renewable energy sources. I informed our distinguished guest that Azerbaijan has great opportunities and potential in this area. The signed contracts will provide us with 6,500 megawatts of new energy, clean energy capacities in 5 years, and we invited Vietnamese companies to invest. At the same time, I stated that the Azerbaijani side is ready to invest in renewable energy sources in Vietnam.

There are great prospects in the field of defense industry. This direction of industry is sufficiently developed in both countries. Here, too, joining efforts, creating joint ventures and mutual cooperation can be beneficial.

Our joint activities in international organizations are also very encouraging. Vietnam seriously supported Azerbaijan in the UN Security Council several years ago, and we are grateful for that. At the same time, we are working together within the framework of the Non-Aligned Movement. Azerbaijan chaired this organization for 4 years and left a very good mark. Today, the activity of the Non-Aligned Movement as an even more significant institution is in the interest of both countries.

Madina Mammadova\\EDnews