Azerbaijan, Vietnam may create joint ICT companies

Trend:

Azerbaijan and Vietnam have agreed to encourage bilateral cooperation between private ICT companies, a source in the Azerbaijani government told Trend.

According to the source, in particular, Azerbaijani and Vietnamese sides talked about increasing mutual investments and creation of joint companies in this area.

"Both countries also agreed to organize joint business forums, mutually participate in ICT events held in the two countries, develop and strengthen mutually beneficial cooperation in information and communication technologies within such international organizations as the International Telecommunication Union and the Universal Postal Union," the source added.

According to the source, Azerbaijan and Vietnam also intend to increase cooperation in the transport sector. In particular, an agreement was reached to establish a joint working group to ensure the implementation of the "Memorandum of Understanding between the Ministry of Transport of the Republic of Azerbaijan and the Ministry of Transport of the Socialist Republic of Vietnam", dated May 14, 2015.

According to the Azerbaijani State Customs Committee, trade turnover between Azerbaijan and Vietnam amounted to $15.86 million in January-April 2018. About $630,000 accounted for the export of Azerbaijani products to Vietnam. Trade turnover between the two countries increased by 65.2 percent for the year.