Hai noted with satisfaction that trade between the two countries grew strongly in the first 10 months of 2021, by 21 per cent year on year, to US$337.26 million. Of the figure, Việt Nam’s exports to Panama reached $336.23 million, rising 24.35 per cent.

However, he said, to develop economic and trade ties on par with potential, the two sides should increase coordination in trade and investment promotion both in person and via videoconference.

They also need to share information about their product quality standards, boost mutual visits by enterprises, and increase business matching, especially when the COVID-19 pandemic is gradually brought under control.

The Deputy PM also asked Panama to create favourable conditions for Vietnamese firms’ trade promotion activities in the country and help its businesses learn about the Vietnamese market.

For his part, the Panamanian official said his country hopes to foster the export of some agricultural and aquatic products to Việt Nam.

He agreed that the two sides will coordinate closely to step up bilateral trade and investment via activities assisting their businesses to explore and access each other’s markets.

Panama will organise the ExpoComer international trade exhibition in Panama City from March 23 to 26 next year, Sosa noted, inviting Vietnamese firms to attend the event to seek chances for trade and investment partnerships with the country and other Latin American nations.

At the meeting, the officials agreed to keep working together to hold the second meeting of the Việt Nam - Panama Joint Committee for Economic, Trade, and Investment Cooperation in 2022.