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News // Oil and gas worldwide

Vietnam shows interest to invest in oil & gas industry of Azerbaijan

10 July 2018 , 14:08Neftegaz.RU523

Baku, July 10 - Neftegaz.RU. Vietnam has shown interest to invest in oil and gas industry of Azerbaijan. According to an official source, Vietnam is interested in the participation of SOCAR in the national oil and gas industry, energy infrastructure, and the identification of enterprises in this area.


The source added that possibility of passing Vietnamese specialists training and practice at SOCAR enterprises is being discussed. According to available information, Vietnam is also interested in SOCAR’s participation in the modernization of the country’s oil and gas industry. 


Already agreements have been reached to continue cooperation at the level of state oil companies in marketing in the oil and gas sector, including such issues as trade in oil, natural gas and petrochemical products, as well as implementation of joint projects in this area, the source said.


According to the State Customs Committee of Azerbaijan, the trade turnover with Vietnam in January-April 2018 amounted to $ 15.86 million. The export of Azerbaijani products to Vietnam accounted for about 630 thousand dollars.


During the year, trade between the 2 countries increased by 65.2 %. Baku is working to boost its trade in South Asia and Far East and wishes to maintain its trade balance with countries it has trade relations.


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