Vietnam designates Kazakhstan as its primary strategic partner in Central Asia.
Astana, Kazakhstan is set to foster a strategic partnership with Vietnam, marking the first such relationship for Vietnam in Central Asia, announced General Secretary of the Communist Party of Vietnam Central Committee Tô Lâm during a state visit with President Kassym-Jomart Tokayev.
In an informal meeting, Tokayev praised Vietnam as a crucial partner for Kazakhstan in Asia, citing overlapping aspirations for prosperity. "Two years ago, during my visit to Vietnam, we agreed to explore new areas of bilateral cooperation. Next month marks 33 years since the establishment of diplomatic relations between our countries. I am confident that the bond between our peoples will only strengthen," he said.
At larger discussions, Tokayev voiced support for Vietnam's long-term goal of becoming one of the world's top 25 economies by 2040, promising Kazakhstan's backing to help Vietnam achieve this ambition.
Both sides place emphasis on boosting trade, which stood at $860 million in 2024. They aim to elevate this figure to $2 billion in the foreseeable future. Tourism cooperation is another focus area, with Kazakhstan and Vietnam benefiting from a visa-free regime and over 40 direct flights connecting the two countries. Tokayev suggested exploring Kazakh destinations that might appeal to Vietnamese travelers.
Tô Lâm noted the lasting relationship between the two nations, dating back to 1959 when President Hồ Chí Minh made an official visit to Kazakhstan. He highlighted Kazakhstan's continuous support to Vietnam, from its independence struggle to current day development efforts. Valuing the cultural exchange promoted by Vietnamese Culture Days in Kazakhstan, Tokayev expressed hope that these events would foster intercultural dialogue and deepen mutual understanding.
Trade expansion and the $2 billion objective
- Growing Trade: Bilateral trade reached $860 million in 2024, nearly doubling from over $400 million in 2022, with potential discrepancies in reporting periods or methodology.
- Sector focus: Plans involve focusing on oil and gas, agriculture, and manufacturing.
- Investment: The Sovico Group's acquisition of Qazaq Air isexpected to introduce new routes, facilitating trade and tourism.
Tourism opportunities
- Air Connectivity: The Sovico Group's acquisition of Qazaq Air will expand flight options, benefiting tourism and business travel.
- Promotion Efforts: Both countries aim to showcase Kazakhstan's cultural and natural wonders to Vietnamese travelers, while promoting Vietnam's coastal destinations to Kazakh tourists.
Key challenges and support measures
- Standard Compliance: Resolving anti-dumping disputes and assisting businesses to meet international standards will be crucial.
- Financial Access: Boosting funding for SMEs and encouraging high-tech adoption will improve product competitiveness in both markets.
This partnership, backed by direct flights and diversified trade, is set to drive the $2 billion trade target within the next 3–5 years, with tourism growth as an complementary factor.
- The growing trade between Kazakhstan and Vietnam is on the rise, with bilateral trade reaching $860 million in 2024, showing a significant increase from over $400 million in 2022.
- To achieve the $2 billion trade objective within the next 3–5 years, both countries have agreed to focus on sectors such as oil and gas, agriculture, and manufacturing, hoping for further investment opportunities like the Sovico Group's acquisition of Qazaq Air.
- Boosting tourism will also be a key component in strengthening this partnership, with Kazakhstan planning to highlight its cultural and natural wonders to Vietnamese travelers while promoting Vietnam's coastal destinations to Kazakh tourists, made possible through the increase in flight options provided by the Sovico Group's acquisition of Qazaq Air.
