Bilateral relations have developed considerably since the two countries established diplomatic ties on February 11, 1973. However, cooperation has yet to match the two countries’ potential.
Vietnam and Bangladesh signed an agreement to establish a joint committee for economic, trade, cultural and scientific and technological cooperation in 1997. They plan to hold the second session of the committee this year.
Two-way trade has grown significantly in recent times, reaching US$280 million in 2010, up 241 percent from the 2009 figure, and US$482 million in 2011, up 72 percent against 2010.
Vietnam mainly exports rice, clothing, plastics, rattan and bamboo products, rubber, computers, electronic appliances, woodwork, china and ceramics.
It imports pharmaceuticals, garment and leather accessories, fibres, machinery and equipment, electronic components, and urea.
