TODAY.AZ / Business

Vietnam interested in establishing JV with Azerbaijan in oil and gas sector

09 July 2018 [11:21] - TODAY.AZ

By  Trend

Vietnam is interested in the participation of the Azerbaijani state company SOCAR in its national oil and gas industry, energy infrastructure, as well as the creation of joint ventures in this area, a source in the government of Azerbaijan told Trend.

The source told Trend that, Vietnam is also interested in SOCAR's participation in the modernization of the country's oil and gas industry.

The source added that, today, the possibility of training Vietnamese specialists at SOCAR enterprises is being discussed.

The parties also agreed to continue cooperation at the level of state oil companies in marketing in oil and gas sector, including issues such as trading in crude oil, natural gas and petrochemical products, as well as implementation of joint projects in this area, the source said.

According to the data of the State Customs Committee of Azerbaijan, the trade turnover with Vietnam in January-April 2018 amounted to $15.86 million. About $630,000 fell on the share of the export of Azerbaijani products to Vietnam. During the year, the trade turnover between the two countries increased by 65.2 percent.


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