Kazakhstan and Vietnam Poised to Boost Trade and Economic Cooperation

Kazakh Prime Minister Olzhas Bektenov and General Secretary of the Communist Party of Vietnam Central Committee Tô Lâm reaffirmed their commitment to enhancing bilateral trade and economic ties during a meeting on May 6, according to the Prime Minister’s press service.

On the same day, a Kazakh-Vietnamese business roundtable was held in Astana, bringing together government officials, business leaders, and representatives of state agencies to explore new areas of collaboration, The Caspian Post reports citing Kazakh media.

Trade and investment

The two sides emphasized their intention to boost bilateral trade turnover to $2 billion. Kazakhstan expressed readiness to increase exports of 35 product categories to Vietnam, including petrochemical, metallurgical, chemical, mechanical engineering, and food goods.

Currently, 13 companies with Vietnamese capital operate in Kazakhstan in various sectors, indicating a high level of trust in the country’s business environment and a sustainable and productive partnership.

Agriculture

Agricultural trade between Kazakhstan and Vietnam rose 3.5% last year, and Kazakh agricultural exports increased 15-fold. Both sides recognized the potential for further cooperation, particularly in exchanging scientific experience and implementing modern agricultural technologies to boost productivity.

Kazakhstan plans to increase its agro-industrial complex’s share of processed products to 70% over the next three years. To support this, 29 poultry meat plants with a total capacity of over 220,000 tons of meat per year and 11 egg factories with a capacity of 850 million eggs annually are slated to open. Vietnamese partners were invited to participate in joint production ventures using water-saving technologies.

Transport and digital cooperation

In the transport and logistics sector, emphasis was placed on cooperation within the Trans-Caspian International Transport Route. This route is expected to significantly reduce delivery times for Vietnamese goods, helping elevate bilateral trade to a new level.

In aviation, Qazaq Air and VietJet signed an agreement to launch the VietJet Qazaqstan brand.

The discussion also focused on digital transformation and innovation. Kazakhstan ranks 24th globally in the e-government index and is among the top ten countries for online service quality. In turn, Vietnam, as one of the leaders in IT, can become a strategic partner of Kazakhstan in digital public services, AI development, and technology exchange.