The presidents of Vietnam and Mongolia Thursday agreed to strengthen their traditional friendship and develop the scope of economic ties.

Triet and the Mongolian leader said that despite their countries’ geographical distance, the Vietnamese and Mongolian people had always been close and the traditional cooperation had developed steadily since the two countries established diplomatic ties more than half a century ago.

The Mongolian side said it welcomed Vietnamese businesses who were willing to invest in mining, urban infrastructure construction, agricultural product processing and pharmaceutical production.

The two sides agreed to work together to address goods transport issues in order to facilitate the exchange of goods between the two countries, with the aim of increasing two-way trade to US$10 million a year by 2010.

While affirming that Vietnam is one of its closest friends, the Mongolian president said he hoped that Vietnam would become a bridge for increased cooperation between Mongolia and other Southeast Asian countries.

Triet took the occasion to announce that Vietnam will present 1,000 tons of rice and ambulances worth $300,000 to the people of Mongolia. Vietnam also agreed to sell 20,000 tons of rice to Mongolia at cost.

Following the talks, the Vietnamese and Mongolian presidents witnessed the signing of a memorandum of understanding on economic and industrial cooperation between Vietnam’s Ministry of Industry and Trade and the Ministry of External Relations of Mongolia.

Source: VNA