QUITO – Ecuador and Vietnam agreed on Friday to strengthen political dialogue through high-level visits and the eventual opening of embassies in Quito and Hanoi, the Ecuadorian Foreign Ministry announced.
The two countries also agreed to encourage trade and investment through the adoption of an agreement between the Institute for the Promotion of Exports and Investments of Ecuador and Vietnamese agency Vietrade, as well as with the participation of the private sector of both countries.
They also resolved to step up bilateral technical cooperation in areas of common interest, the ministry said, adding that pacts will be signed in this ambit and in that of genetic resources and technology parks, which will benefit Ecuador’s Yachay City of Knowledge.
The agreements came as delegations from both sides met Thursday and Friday in Quito in the third political consultation between Ecuador and Vietnam.
During the talks, the Vietnamese delegation agreed to favorably consider Ecuador’s proposal to become a cooperation partner in the Association of Southeast Asian Nations (ASEAN) and expressed its satisfaction at Ecuador holding the chairmanship of the G77 group from January 2017, the ministry said.
Having established relations in 1979, Vietnam is one of Ecuador’s most important non-oil trading partners, according to the ministry, which cited the example of Vietnamese companies such as Viettel Group having shown interest in investing in the telecommunications sector of the South American country.