The MoU reflects both countries’ recognition of the
importance of economic development as a key driver for advancing social and
economic progress. It underscores a shared commitment to sustainable
development, the desire to deepen friendly relations, and efforts to create
favorable conditions for joint development initiatives. The agreement also aims
to diversify international and economic cooperation, especially through
bolstering bilateral ties in trade, investment, and economic sectors.
Al-Mashat highlighted the significance of the Egypt-Vietnam
Joint Committee as a key mechanism for advancing economic and international
cooperation. She noted that over the course of five previous sessions, the
committee has played a pivotal role in strengthening bilateral economic
relations and served as a platform for constructive dialogue between the two
governments and business communities.
She further explained that the newly signed MoU opens up new
horizons in light of the comprehensive partnership between both countries. It
paves the way for deeper economic and trade cooperation, particularly in areas
such as the digital economy, climate change and green development, renewable
energy, industrial localization, and logistics services. The agreement encourages
active private sector participation, forming a promising platform for joint
initiatives.
The two sides also agreed to work on policy dialogue,
knowledge exchange, capacity building, and sharing of successful policies and
practices in the agreed areas. This reflects the robust bilateral cooperation
and the mutual recognition of knowledge as a cornerstone linking the two
nations, particularly within the framework of South-South economic cooperation.
Al-Mashat also held a
meeting with Vietnam’s Deputy Prime Minister, during which they discussed
implementation mechanisms for the outcomes of the presidential summit and
preparations for the sixth session of the Joint Committee.
It is worth noting that Egyptian-Vietnamese relations date
back to the 1960s. In 1997, an agreement was signed to establish a joint
ministerial committee, which has since held five sessions. Vietnam is also one
of the founding members of the Asian Infrastructure Investment Bank (AIIB). In
2017, President El-Sisi made the first-ever visit by an Egyptian president to
Vietnam, during which several cooperation agreements were signed.