Multidimensional partnership between Nepal and Vietnam discussed

Kathmandu, Aug. 25: Vice President of Nepal, Ramsahay Prasad Yadav and his Vietnamese counterpart Vo Thi Anh Xuan have agreed on convening the first meeting of the Bilateral Consultation Mechanism between the two nations at an early date. 

At a delegation-level bilateral meeting between the two vice presidents on Sunday, they emphasized the importance of maintaining high-level exchanges as well as regular interactions between the Ministries of Foreign Affairs of the two countries, informed Nepal’s Foreign Ministry in a statement. 

The two leaders also discussed ways to enhance trade, investment, and connectivity, including the possibilities of a direct air link between Nepal and Vietnam. 

They highlighted the potential for cooperation in tourism and cultural exchanges, with Buddhism serving as a spiritual and cultural bridge connecting the peoples of the two countries. 

​“Both sides reaffirmed their commitment to enhance people-to-people relations and to work together to further deepen and diversify the multifaceted partnership between Nepal and Vietnam in the days to come,” read the statement. 

Likewise, the two leaders reviewed the longstanding friendship and cooperation between the two countries. They expressed satisfaction at the excellent state of relations since the establishment of diplomatic ties in 1975, and underlined the significance of the year 2025 as it marks the 50th anniversary of the diplomatic relations.

Vice President Xuan arrived in Nepal on Saturday at the invitation of Nepal’s Vice President, Ramsahay Prasad Yadav, on the historic occasion of the 50th anniversary of the establishment of diplomatic relations between Nepal and Vietnam.

Earlier, in the afternoon, VP Xuan held a meeting with Prime Minister KP Sharma Oli where the two discussed further deepening the relations between the two countries.

At the meeting, at the Prime Minister’s Office, both leaders exchanged views and experiences, focusing on ways to strengthen the longstanding problem-free relationship and to expand cooperation in various areas, PM Oli’s secretariat informed in a statement.

Prime Minister Oli’s Chief Adviser, Bishnu Prasad Rimal, who attended the meeting, informed that talks centred on consolidating ties between the two governments, business communities, and peoples, as well as enhancing cooperation in diplomatic and cultural fields.

Meanwhile, in a meeting with the Nepal Chamber of Commerce (NCC), Vice President Xuan emphasised the need for closer coordination between the private sectors of both countries to expand trade and investment. She invited NCC representatives to visit Vietnam and explore cooperation with Vietnamese businesses, the business body informed in a statement.

During a delegation call on VP Xuan, the NCC discussed strengthening trade, investment, and private sector cooperation between the two nations.

The delegation also highlighted agriculture, tourism, energy, education, and information technology as promising areas for collaboration and expressed its commitment to strengthening Nepal–Vietnam economic ties.

The discussion, attended by NCC President Kamlesh Kumar Agrawal, Immediate Past President Rajendra Malla, Senior Vice President Deepak Kumar Malhotra, Women’s Chamber President Urmila Shrestha, and other officials, took place in the presence of Vietnam’s Honorary Consul and former NCC President Razesh Kaji Shrestha.

Nepal and Vietnam had established bilateral relations on 15 May 1975. Both the countries conduct trade with each other where Nepal witnesses a huge deficit. In the last Fiscal Year 2024/25, Nepal imported goods worth Rs. 6.88 billion from Vietnam and exported merchandise equivalent to mere Rs. 44.68 million, thus witnessing deficit of Rs. 6.83 billion. 

Nepal’s largest import from Vietnam is black pepper with imports worth Rs. 636.7 million last year. Other major imports include router, printers and copiers, brans, mobile phone chargers, washing machines and other consumer durables, catfish, cashew nuts, printed plates and sheets, incense sticks, communication equipment, footwear, white pepper, calcium carbonate, floor covering and sugar confectionary and noodles.

Likewise, Nepal’s major exports to Vietnam are Yarchagumba, musical instruments, refined meat, mushrooms and handicraft items.