Bolivia, Vietnam Sign Energy Cooperation

Vietnamese vice-president Nguyen Thi Doan held talks with Bolivian president Evo Morales on Tuesday in efforts to strengthen bilateral relations. 

During the high-level talks, the two leaders agreed to enhance cooperation in energy, oil and gas, telecommunications and agriculture.

Following the meeting, Bolivian foreign minister David Choquehuanca stated, “We want to sign cooperation agreements inscience and hydrocarbons. In coming days we intend to follow through with the plans discussed in the conversations between President Morales and the Vietnamese authorities.”   

However, both sides admitted that trade investment ties have yet to match potential, as two-way trade now stands below US$10 million per year.

In efforts to incentivize investment, both governments agreed to create favorable investment conditions for businesses to access each other’s market. 

In a press conference after the meeting, Vice-President Doan congratulated the Bolivian people for their achievements carried out under the Morales administration particularly in the area of economic development and energy project.  

President Morales, who was sworn in for a third consecutive five-year term in January, plans to invest US$2.5 billion in infrastructure and energy related projects this year. 

​