Ample room for Vietnam-Türkiye trade and investment cooperation

Turkish Ambassador to Vietnam Korhan Kemik granted an exclusive interview to VOV, shedding light on the economic and trade cooperation potential between the two countries.

VOV:Could you share your thoughts on Vietnam’s position in Türkiye’s economic and trade relations within ASEAN?
Ambassador Korhan Kemik: Within the framework of the "Asia Anew" initiative, Türkiye places special emphasis on bilateral relations with Southeast Asian nations and ASEAN. With embassies in all ASEAN member states, we are actively strengthening cooperation with ASEAN, aiming to achieve dialogue partner status. Vietnam holds a key role for Türkiye in ASEAN due to its rapidly growing industry and strategic location. We see Vietnam offering many opportunities for Turkish companies in areas such as manufacturing, infrastructure, and renewable energy, among others.

Vietnam’s participation in global free trade agreements like the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP) also provides Turkish investors with access to the broader Asian market.

Türkiye’s strengths in textiles, automotive, and electronics align well with Vietnam’s developing industries, especially in green manufacturing and sustainable consumption. Additionally, Türkiye’s superior construction capabilities can support Vietnam’s needs for urbanization, smart city development, and logistics hubs.

VOV:During Prime Minister Pham Minh Chinh’s official visit to Türkiye in 2023, the two countries’ leaders discussed measures to further boost bilateral trade and investment cooperation, setting a goal to raise bilateral trade turnover to US$4 billion in the coming years. In your opinion, what foundations do we have to ensure this goal becomes a reality?
Ambassador Korhan Kemik: Following Prime Minister Pham Minh Chinh’s highly successful official visit to Türkiye last year, which marked a milestone in our bilateral relations, significant progress has been made toward realizing the goals agreed upon by the leaders of the two countries during the visit.

In my opinion, utilizing the mechanisms such as the Türkiye-Vietnam Joint Economic and Trade Committee is crucial for enhancing bilateral trade in a balanced manner. The recently established Turkish Chamber of Commerce in Vietnam (TurkCham) will be an additional platform for connecting the businesses from both countries and for identifying cooperation opportunities. Sector-specific cooperation can also be prioritized, focusing on innovation, technology, logistics, high-tech agriculture, renewable energy, and tourism to maximize complementary advantages.

Furthermore, the continued engagement between the trade ministries of the two countries contributes to our efforts directed for the full realization of the trade potential. Additionally, leveraging digital trade platforms to connect Vietnamese and Turkish businesses, sharing experiences in supporting small and medium enterprises (SMEs), and developing training and internship programs to exchange expertise - especially in tourism, construction, and technology - will be essential.

To share resources and knowledge, it may be useful to establish innovation centers focusing on renewable energy, smart cities, and advanced manufacturing technologies. Enhancing public awareness of the existing potential in cultural, economic, and business fields will also be beneficial. This approach will foster enthusiasm among people, deepening cooperation between the two countries.

VOV:Could you share how Turkish corporations and enterprises currently view the Vietnamese market, especially in Türkiye’s key sectors? Also, how do you assess Vietnam’s efforts in creating a favourable business environment for Turkish companies?
Ambassador Korhan Kemik: Turkish companies, particularly in the construction and manufacturing sectors, are showing increasing interest in the Vietnamese market. Globally, Türkiye is renowned as a leading exporter of construction services and consistently ranks among the world’s largest economies. The Long Thanh International Airport project, implemented by a consortium led by a Turkish company IC Ictas, will hopefully pave the way for further cooperation between Türkiye and Vietnam.

Vietnam offers an attractive investment environment with its rapidly growing economy and strong government support for foreign direct investment (FDI) and ambitious development goals.

In this context, Turkish companies can take the lead in green urban development projects in Vietnam, contributing to sustainable growth. Encouragement and facilitation of the Turkish companies to operate in industrial zones, particularly in sectors like textiles, automotive components, electronics, and machinery will open new avenues of cooperation. Additionally, there is significant potential for the Turkish enterprises in tourism infrastructure investment such as luxury resorts, medical tourism, and eco-friendly hotel projects.

VOV:What should Vietnamese businesses consider when investing and operating in Türkiye, particularly those in sectors such as footwear, textiles, agriculture, and seafood?
Ambassador Korhan Kemik: Vietnamese businesses in footwear, textiles, agriculture, and seafood can capitalize on Türkiye strategic geographical position as a gateway connecting Europe, Asia, and the Middle East.

By doing so, Vietnamese businesses can benefit from Türkiye’s well-established supply chains and trade networks. Collaborating with Turkish companies can help them integrate into local industries and enjoy advanced R&D capabilities and manufacturing standards that meet EU requirements, derived from the EU - Türkiye Customs Union.

In addition, Vietnamese companies may focus on building strong brand recognition in Türkiye. They can achieve this by participating in trade fairs and exhibitions, establishing representative offices, or forming joint ventures. This approach will help them fully leverage the favorable business environment in Türkiye.

VOV:The tourism potential between Vietnam and Türkiye is immense, especially with Turkish Airlines operating direct flights between Hanoi – Istanbul and Ho Chi Minh City – Istanbul at a frequency of one flight per day, soon increasing to 10 flights per week. How do you assess this potential between the two countries?
Ambassador Korhan Kemik: Turkish Airlines, our national flag carrier renowned for its excellent service quality, continues to set global standards in aviation with seamless connections and an outstanding in-flight experience. As the airline serving the most destinations worldwide, Turkish Airlines plays a crucial role in strengthening the relationship between Vietnam and Türkiye, making travel more convenient and enjoyable.

Moreover, Turkish Airlines acts as an important gateway, providing Vietnamese travelers an access to an extensive destination network. The increase in direct flights between Türkiye and Vietnam from 14 to 20 flights per week will boost bilateral tourism, benefiting sectors such as aviation, hospitality, and related industries. This expansion will improve accessibility, and foster stronger cultural exchange.

Türkiye attracts millions of tourists annually, and we anticipate around 60 million visitors in 2024. We are looking forward to welcoming more Vietnamese visitors in Türkiye.

VOV:Thank you, Ambassador Korhan Kemik!