In light of Timor-Leste’s concerns about potential food shortages, Vietnamese Prime Minister Pham Minh Chinh has reaffirmed Vietnam’s commitment to support and boost rice trade cooperation.
On September 5th, during the ASEAN 43 High-Level Meeting, Prime Minister Pham Minh Chinh met with Timor-Leste’s Prime Minister Xanana Gusmao. Both leaders emphasized their intention to swiftly conclude negotiations and sign a Bilateral Investment Protection Agreement, approve a Trade Agreement between the two countries, and maximize the benefits in trade, investment, tourism, culture, education, and people-to-people exchanges. Both nations are also keen on exploring new areas of cooperation that align with Timor-Leste’s development needs and Vietnam’s strengths, such as agriculture, digital transformation, green transition, and more.
Significantly, the Vietnamese government has expressed its readiness to support and enhance rice trade cooperation with Timor-Leste. The two governments aim to soon engage in discussions and sign a rice trade agreement to provide a long-term legal framework for stable cooperation.
Prime Minister Pham Minh Chinh further proposed that Timor-Leste assist and create favorable conditions for Vietnamese enterprises to cooperate, invest, and implement investment projects. He stressed the need to resolve any lingering legal issues to encourage foreign investment in the country.
Prime Minister Xanana Gusmao agreed with the proposals made by Prime Minister Pham Minh Chinh, especially in the fields of telecommunications, trade, investment, and rice cooperation. Gusmao emphasized the significant contributions of Telemor (Viettel) to the development of the telecommunications sector in Timor-Leste. He also committed to actively addressing the challenges faced by foreign investors, including Viettel.
During a meeting with Klaus Schwab, the Executive Chairman of the World Economic Forum (WEF), Prime Minister Pham Minh Chinh expressed Vietnam’s readiness to support countries in ensuring stable rice supplies and enhancing global food security.
Vietnam continues to contribute to WEF’s initiatives and activities, and it hopes for further collaboration with the organization to host various events that bring together leading global and regional economic experts and policymakers. These activities aim to address common concerns and foster new dynamics, including the application of advancements in science and technology to drive global economic recovery and growth.