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Upbeat signs on Vietnam-Czech Republic trade ties

Investment and trade ties between Vietnam and the Czech Republic have shown encouraging signs along with the thriving political and diplomatic relations.
Upbeat signs on Vietnam-Czech Republic trade ties ảnh 1Garment and textiles considered as Vietnam's key exports to the Czech Republic (Photo: VNA)

Prague (VNA) – Investment and trade ties between Vietnam and theCzech Republic have shown encouraging signs along with the thriving politicaland diplomatic relations.

According to Vietnamese Ambassador to the Czech Republic Ho Minh Tuan, two-waytrade increased unceasingly at about 15 percent in recent years. Import-exportturnover between the two nations was reported at some 1.2 billion USD in 2018,doubling the amount recorded in the previous year.

As a member of the European Union which has traditional friendship withVietnam, the Czech Republic stands ready to cooperate with the Southeast Asiancountry in the fields of its strength like manufacturing, mining, foodprocessing technology, agriculture and beer production.

The Vietnamese diplomat said that the country sees Vietnam as its potentialtrade partner, and a bridge to bolster exports to the Association of SoutheastAsian Nations (ASEAN). Thus, the Czech Republic hopes to receive support fromcompetent authorities in Vietnam in finding faithful partners.

Once the EU-Vietnam Free Trade Agreement (EVFTA) takes effect, Czechenterprises will have more opportunities to land long-term investment inVietnam as well as enhance exports of such items as machines, equipment,pharmaceuticals, chemical and means of transportation. Meanwhile, the deal willfacilitate conditions for Vietnam’s shipments of footwear, garment andtextiles, tropical agricultural products, seafood, wood products and industrialproducts.

Czech Deputy Minister of Industry and Trade Vladimir Bartl had an optimisticoutlook on the bilateral trade relations, saying that Vietnamese coffee,pepper, fruits, tea, seafood, fine art, footwear and clothes have been exportedto the Czech Republic while the European country has shipped electronicproducts, milk and chemical, among others to Vietnam.

Currently, Vietnam is enjoying a trade surplus of 800 million USD with theCzech Republic, he added.

Czech enterprises have been present in many Vietnamese localities, especiallyin Da Nang city where the firms are expanding investment in engineering,manufacturing, bio-technology and nano technology.-VNA
VNA
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