Republican Party of Armenia

President of Armenia Serzh Sargsyan will pay an official visit to Vietnam from June 8-9 at the invitation of Vietnamese President Truong Tan Sang. The visit aims to strengthen multifaceted cooperation between the two countries, especially in economics, trade and in the fields of the two countries’ strength, as well as exchange views on international and regional issues of common concerns. President Serzh Sargsyan’s visit takes place in the context the two countries’ traditional friendship has seen positive developments and coincident with the 20 th anniversary of the Vietnam-Armenia diplomatic ties (July 20).
The western Asian country has seen stable development growth in recent years with low inflation rate.
It is strong in production and export of high quality electronic items, cables, milk, meat, wine and jewelry and has demand for cereals, sugar, high-tech products and fuel.
Despite global economic crisis, Armenia still reached a fairly high GDP growth rate, 4.6 percent in 2011 compared to 2.1 percent in 2010.
Vietnam and Armenia have witnessed traditional friendship and maintained fine political relations with delegation exchanges at all level.
Former Vietnamese President Nguyen Minh Triet met with President Serzh Sargsyan on the sidelines of the celebration of 65 th anniversary of Fascism Victory in Moscow on May 9, 2010.
Meanwhile, Armenian Foreign Minister Edward Nalbandian visited Vietnam in February 2012, during which he spoke highly of Vietnam’s role and prestige in the region and expressed hope that Vietnam will support Armenia in expanding relations with Southeast Asian countries.
Though the two countries’ relations have seen developments, trade ties yet matched the potentials.
Two-way trade reached nearly 21 million USD in 2010, of which Vietnam’s exports worth 5.1 million USD, and in 2011, 7.4 million USD.
Armenia imported telephones and spare parts, products made from iron and steel, rice, tea, coffee, seafood and garments from Vietnam and exported machineries, components and spare parts, cotton, wood and wooden products and material plastic.