| IN BRIEF
|
The relationships between the Vietnam and the Dominican Republic look particularly promising, marked by a strengthened development and one increased cooperation in various fields. Through growing diplomatic and economic exchanges, these two nations benefit from remarkable potential for collaboration. There official visit of the Vietnamese Prime Minister in this country of Caribbean symbolizes a new era of opportunities that could transform the landscape of bilateral relations. As both countries strive to realize their economic ambitions, the partnership they cultivate is proving to be a key element for a thriving future.
The relationships between the Vietnam and the Dominican Republic are experiencing remarkable growth, reinforced by a series of official visits and cooperation initiatives. This article explores the foundations of this bilateral engagement, highlighting the economic, political and cultural perspectives that outline a promising future for these two constantly evolving nations.
A historic moment: the visit of the Vietnamese Prime Minister
From November 19 to 21, the Vietnamese Prime Minister, Pham Minh Chinh, will go to Dominican Republic at the invitation of his counterpart, Luis Rodolfo Abinader Corona. This visit is of particular importance, marking the first visit of a Vietnamese Prime Minister since the establishment of diplomatic relations between the two countries in 2005. According to the Vietnamese ambassador to Cuba and the Dominican Republic, Le Quang Long, this trip symbolizes a significant step forward in the ties shared by the two nations.
A solid basis for bilateral cooperation
For nearly two decades, relations between Vietnam and the Dominican Republic have resulted in tangible progress in various areas, including politics, economics, as well as cultural exchanges. The Vietnamese representative stressed that the visit of Pham Minh Chinh is part of the desire to strengthen these relations, symbolizing a long-term commitment to bilateral development.
The economic outlook: unexplored opportunities
Trade between Vietnam and the Dominican Republic has seen increasing momentum, reaching nearly $120 million in 2022. Vietnam’s main exports include coffee, THE textiles, THE shoes, as well as agricultural products and electronic components. At the intersection of these trades, the parties expect to reach a trade volume of $500 million within the next four to five years, highlighting the latent potential underlying their economic relationship.
Investment and collaboration opportunities
Vietnam and the Dominican Republic seek to strengthen their collaboration in key sectors such as agriculture, tourism, renewable energies, and technology. The Dominican government, as an emerging economy in Latin America, prioritizes attracting investments especially in infrastructure and technological development. The ambassador Le Quang Long also mentioned the desire of both parties to explore more avenues in the field of health, while promoting cultural exchange programs.
A legal framework for cooperation
During this visit, the two countries are expected to sign several documents that will establish a legal framework for bilateral cooperation. This formal commitment will be crucial to structure economic initiatives and establish mechanisms to further promote trade. This will not only strengthen friendships, but also open the door to fruitful collaborations.
A common commitment to sustainable development
On the international stage, Vietnam and the Dominican Republic show a strong commitment to global issues such as environmental protection and responding to climate change. The two nations align effectively in multilateral forums such as the UN and the WTO, emphasizing their determination to work together to achieve the Sustainable Development Goals and promote peace and regional stability.
A bright future
As the year 2025 will mark the 20th anniversary of the establishment of diplomatic relations between these two countries, collaboration between Vietnam and the Dominican Republic seems more promising than ever. With a legal framework in place and innovative initiatives in sight, the two nations appear poised to fully realize their potential for cooperation, thereby strengthening their position internationally and spurring economic growth and cultural development.
FAQ on Vietnam-Dominican Republic Relations
A: This visit, scheduled for November 19-21, is the first by a Vietnamese Prime Minister since the establishment of diplomatic relations and marks a major breakthrough in bilateral relations.
A: The Dominican Republic is the 7th largest economy in Latin America, with a GDP of $121.44 billion in 2023, providing significant economic opportunities for Vietnam.
A: The main sectors include agriculture, tourism, technology, renewable energy and natural resource exploitation.
A: Both countries aim to increase bilateral trade to US$500 million over the next 4-5 years.
A: Vietnam and the Dominican Republic work together in organizations such as the UN and the WTO to promote the Sustainable Development Goals and ensure peace and stability.
A: Relations between Vietnam and the Dominican Republic are promising, with increased potential for cooperation in various areas, including economic and cultural.