Agreement on Friendship and Cooperation Between the Capitals of Vietnam and Egypt Signed

On July 27, representatives from the capital cities of Hanoi and Cairo signed a friendship and cooperation agreement. The signing ceremony took place in the presence of Deputy Prime Minister Tran Luu Quang, who was on an official visit to Egypt.

The signing ceremony of the Friendship and Cooperation Agreement between Hanoi and Cairo, Egypt. Photo: VGP/Hai Minh

Speaking at the event, Quyen stated that the signing held great significance, taking place at a historical and crucial moment as Vietnam and Egypt commemorate the 60th anniversary of the establishment of their diplomatic relations.

During October 2022, Deputy Secretary of the Hanoi Party Committee, Nguyen Van Phong, and Governor of Cairo, Khaled Abdel A’al, officially signed a Memorandum of Understanding (MoU) to establish a collaborative partnership between the two capital cities. This reinforces their shared commitment to fostering local cooperation and promoting bilateral development.

The agreement not only signifies a strong trust in bilateral political cooperation, but also paves the way for numerous new opportunities for collaboration between the two parties. It is expected to play a significant role in the economic prosperity of both capitals, while further strengthening the long-standing friendship and cooperation between Vietnam and Egypt.

On this occasion, Quyen delivered a letter from the Chairman of the Hanoi People’s Committee, Tran Sy Thanh, inviting Cairo Governor Khaled Abdel A’al to pay an official visit to Hanoi in 2023. The purpose of the visit is for the two sides to exchange and discuss specific directions, programs, and action plans for the implementation of the Agreement of Friendship and Cooperation between the two sides.

Deputy Prime Minister Tran Luu Quang holds talks with Egyptian Prime Minister Mostafa Madbouly. Photo: VNA

The same day, Deputy Prime Minister Tran Luu Quang and Prime Minister of Egypt Mostafa Madbouly have agreed to continue cultivating bilateral traditional friendship and enhancing cooperation through increased exchange of delegations, particularly at high levels.

Quang expressed his belief that the government and people of Egypt will successfully implement the “Sustainable Development Strategy: Egypt Vision 2030” and continue to achieve significant progress in national construction and development.

He extended an invitation from PM Pham Minh Chinh to the Egyptian PM to visit Vietnam in the near future and proposed that both countries actively provide mutual support at international organizations.

Hailing the positive developments in bilateral ties between Vietnam and Egypt, the leaders expressed their strong determination to achieve significant progress in various areas of cooperation.

There is still significant potential to enhance cooperation in trade, investment, and agriculture. It has been agreed to facilitate the exchange of business delegations and jointly organize trade and investment promotion events in both countries. This will create favorable conditions for the export of key products like farm produce, rice, apparel, and fertilizers to enter each other’s markets.

The host and guest have pledged to encourage and facilitate business connectivity and foster investment projects in both countries.

To facilitate future trade cooperation, the Vietnamese side has put forth a proposal to explore the potential for negotiating a Free Trade Agreement (FTA) between Vietnam and Egypt. Additionally, there is interest in collaborating with Egypt to produce Halal food through bilateral or multilateral frameworks, either within Vietnam or Egypt.

The host mentioned that Egyptian companies are showing a growing interest in the Vietnamese market and hold Vietnam’s political stability and pro-business environment in high regard. They expressed their desire to strengthen economic, trade, and investment relations between the two countries and are willing to facilitate business operations for Vietnamese enterprises in Egypt.

To effectively implement these measures, both parties have agreed to adequately prepare for and promptly convene the sixth meeting of the Vietnam-Egypt Joint Committee. Furthermore, efforts will be made to expedite the refinement of the legal framework for comprehensive cooperation between the two nations.

During the event, Quang expressed his gratitude and expressed his hope that Egypt would continue to offer scholarships to Vietnamese students, particularly in the Arabic language and other fields in which Egypt excels. He also emphasized the importance of providing support to the Vietnamese community in Egypt to help them settle and integrate into society, thereby promoting mutual understanding and enhancing their role as a bridge for bilateral exchanges and collaborations.

Following their discussions, the two leaders observed the signing of a Memorandum of Understanding on collaboration between the State Bank of Vietnam and the Central Bank of Egypt.