Hanoi (VNA) – Armenian Prime Minister Nikol Pashinyanhad a working session with some major Vietnamese businesses in Hanoi on July 6to seek ways to facilitate bilateral trade and investment.

The event was attended by representatives of theVietnam Chamber of Commerce and Industry (VCCI) and big enterprises in suchindustries as textile-garment, jewellery, and information technology.

The PM, who is on an official visit to Vietnam,said the investment climate in his country is improving in a way thatfacilitates businesses’ development, and there are almost no barriers toforeign investment attraction there.

Armenia is investing big in developinginformation and digital technology. It has also exported a number of high-techproducts in the agricultural and processing sectors, which are also the fieldsthe country wants to seek opportunities for investment cooperation, he noted.

PM Pashinyan said his country is looking for chancesfor investment and trade partnerships in certain aspects, includingtextile-garment, agricultural products, food, alcoholic beverages and driedfruit export, in which both countries have advantages and potential.

Armenia has signed free trade agreements withsome countries and territories. It is also a member of the Eurasian EconomicUnion and has made commitments with some other European countries in theprovision of tariff incentives, he added.

At the session, VCCI Chairman Vu Tien Loc voicedhis belief that there remains much potential for the two countries’ economicrelations.

He said Vietnam has demand for many commoditiesof Armenia’s strength like machinery, equipment and textile-garment materials.Meanwhile, it can also step up the export of aquatic products, farm produce,electronic devices and apparel to the European nation.

Echoing the view, Chairman of the VietnamTextile and Apparel Association (VITAS) Vu Duc Giang said there are numerouscooperation opportunities for Vietnamese textile-garment businesses andArmenian firms.

He elaborated that VITAS imports a large volumeof cotton, over 1.5 million tonnes each year, from foreign suppliers whileArmenia holds potential for producing this commodity. Therefore, this is anarea in which the two countries can work together in the future.

PM Pashinyan also showed his interest inVietnamese coffee products, noting that these might be potential products andif any Vietnamese companies wish, they could be assisted to develop theirmarket in Armenia.

Also on July 6, the visiting leader had ameeting with representatives of the Vietnam-Armenia Friendship Association andVietnamese people who once studied and worked in his country.-VNA