Home » Business » Vietnam, Mongolia recognise market economy status

Vietnam Vietnam, Mongolia recognise market economy statusand Mongolia have exchanged diplomatic notes on mutual recognition of their full market economy status.

Mongolian ambassador to Vietnam Dorji Enkhbat presented the note to Deputy Foreign Minister Bui Thanh Son in Hanoi on December 7.

The same day, the Vietnamese ambassador to Mongolia handed over a similar document to the State Minister of Mongolia in Ulan Bator.

At a reception for Dorji Enkhbat in Hanoi, Deputy FM Son stressed that the mutual recognition is an important step towards implementing the Vietnam-Mongolia Friendship and Cooperation Treaty, meeting the interests of the two peoples.

He noted with satisfaction the positive development of the friendship and cooperation between the two countries over the past six decades, and proposed that Vietnam and Mongolia further enhance cooperation in all areas to help maintain peace, stability, security, and development in the region and the world.

Ambassador Dorji Enkhbat confirmed that Mongolia attaches great importance to the friendship and multifaceted cooperation with Vietnam, considering the mutual recognition a practical move to foster bilateral ties, especially in economics and trade.

The two diplomats agreed that the move shows both countries’ mutual trust and assistance at multilateral forums, aiming to raise two-way trade which is currently modest at nearly US$20 million.


No comments yet... Be the first to leave a reply!