Deputy Minister of Industry and Trade of the Czech Republic Vladimir Bartl (Photo: VNA) Hanoi (VNA) - A Czech trade official hassaid Vietnam and the Czech Republic share huge room for trade and investmentcooperation.
Deputy Minister of Industry and Trade of the Czech Republic Vladimir Bartl,has told the Vietnam News Agency that Vietnam and the Czech Republic havepromising and long-term cooperation potential in numerous fields thanks to thetraditional friendship between the two nations, the active support of the twogovernments, and particularly the EU – Vietnam free trade agreement (EUVFTA)which is to be effective within this year.
"Vietnam and the Czech Republic serve as the twogateways for their products to enter the EU in one way and ASEAN in anotherway. The two nations will actively support each other to fully tap thepotentials of their own as well as within the cooperation mechanisms that theyare members to,” Bartl said.
The Deputy Minister was in Hanoi for the sixth meeting of theInter-Governmental Committee on Vietnam-Czech Republic Economic Cooperation onApril 11. He attended the Vietnam-Czech Business Seminar the day earlier.
Delegates at the Czech-Vietnamese Business Seminar (Source: VNA) “The economic and trading cooperation betweenthe two nations over the past years has yet to reach their potentials andexpectations,” he underscored, adding that the Czech Republic wants strongercooperation and investment in environment protection, mining, constructiontechnology, biotechnology, nanotechnology, telecommunication, industrialmachines, and agriculture, with Vietnam.
Addressing at the Czech-Vietnamese BusinessSeminar hosted by the Vietnam Chamber of Commerce and Industry (VCCI) on April10, Ta Hoang Linh, Head of the European-American MarketsDepartment under the Ministry of Industry and Trade highlighted thefast growth and deep integration into the global and regional economy of both Vietnamand the Czech Republic as a favourable condition for the two countries toaccelerate bilateral cooperation in economics, trade and investment.
He highlighted Vietnam’s favourable investmentenvironment for foreign investors in general and those from the Czech Republicin particular, in terms of political stability, better legal system in linewith international practices, and improved infrastructure.
He said the Vietnam Government is acceleratinginstitutional and administrative reforms in an effort to meet the requirementsof the market-oriented economy as well as the international integration, with aview to creating a more transparent and favourable condition for trading andinvestment of foreign and domestic businesses.
“The Ministry of Industry and Trade and otherministries and sectors are committed to supporting and facilitating trade andinvestment of Czech businesspeople,” Linh said.
The Czech Republic is among Vietnam’s biggesttrade partners in Central and East Europe, he affirmed, calling on Czech firmsto turn greater attention to the Vietnamese market.
For his part, VCCI Vice President Doan DuyKhuong highlighted the stable growth of the Vietnam – Czech trade exchange, andnoted prospects for bilateral cooperation in such key sectors as agriculturalproducts, textile and clothes, machinery, medical equipment, and energy.
VCCI Vice President Doan Duy Khuong speaks at the event (Source: VNA) “The Vietnam – Czech cooperation has always beenamong priorities of the two nations’ governments and business community,”Khuong said, citing the participation of many Czech firms in the seminar.
Sabina Tancevova, Manager of the InternationalRelations Department under the Confederation of Industry of the Czech Republicdescribed Vietnam as one of the most dynamic markets in Asia, adding that thetwo nations share huge benefits in boosting their business connection.
“Czech firms are very interested in investing inVietnam, particularly partnering up with Vietnamese firms run by those who usedto live or study in the Czech Republic,” she said, noting the mutual understandingin terms of language and culture as the reason.
Meanwhile, Petr Kulovany from the Department ofAfrica, Asia and Australia under the Ministry of Industry and Trade of theCzech Republic highlighted Vietnam as a traditional business partner of theCzech Republic, saying that the mutual trade tradition has spanned over thepast 70 years.
Vietnam is among the most important partners ofthe country in Asia and ASEAN, and is on the list of the priority countries inthe Czech Export Strategy from 2012 -2020, he said.
In 2017, Vietnam and the Czech Republic traded nearly257.6 million USD worth of goods, up 3 percent from 2016, 151 million USD ofwhich was Vietnamese export, up 3.5 percent year on year.
In January-February 2018, the two countries’ trade reached nearly50 million USD, up 31.3 percent from the same period in 2017. Vietnam’s exportsworth more than 28 million USD in the time were mostly footwear, apparels,aquatic products, industrial machines, spare parts and electricity devices.
As of the end of February, the Czech Republic has 36 validinvestment projects in Vietnam, capitalizing at over 90 million USD, ranking49th out of 126 nations and territories investing in Vietnam.
The sixth meeting of the Inter-GovernmentalCommittee on Vietnam-Czech Republic Economic Cooperation in Hanoi on April 11sought to come up with more possibilities for the two countries as well astheir businesses to accelerate their economics, trade and investmentpartnerships.-VNA
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