Minister of Industry and Trade Nguyen Hong Dien (right) receives his Czech counterpart Jozef Sileka on February 20. (Photo: Ministry of Industry and Trade)
Hanoi (VNA) – There is great potential forcooperation between Vietnam and the Czech Republic, Minister of Industry and Trade Nguyen Hong Dien said on February 20 when receiving his Czech counterpartJozef Sileka.
Dien said that the two countries’ economic and tradecooperation is still modest, and not commensurate with their potential.
The bilateral trade turnover between the two countries onlyaccounts for a small proportion of the total foreign trade turnover of bothVietnam and the Czech Republic. Direct investment from the Czech Republic into Vietnam and vice versa remains humble.
Vietnam's main exports to the Czech Republic includefootwear, garments, aquatic products, industrial machines, machine spareparts, and electrical equipment, while its imports are machinery, equipment, tools, other spare parts, and iron/steelproducts.
Vietnam’s increasingly improved business and investmentenvironment will be a favourable premise for the two sides to jointly find solutions for further investment cooperation, especially in industry and energy, Dien said.
He added that the two countries are accelerating theintegration process, which is the basis for them to strengtheneconomic and trade relations.
He said he hopes that the Czech Republic, an important partner of Vietnam inEastern and Central Europe, and relatedcountries will soon hasten the ratification of the EU-Vietnam InvestmentProtection Agreement (EVIPA).
Dien calls for further support for enterprises of the twocountries to access market information, and join trade promotion events towardscooperation agreements in energy and mining.
In particular, in the coming time, the two sides need toactively create conditions for the Czech-Vietnamese community to do businessand develop in both countries.
For his part, Czech Minister of Industry andTrade Jozef Sileka agreed with Dien’s recommendations, emphasising that Vietnamis both a friend and an important partner of the Czech Republic.
The Czech Republic wants the two countries to furtherstrengthen cooperation in the fields of trade, industry, and investment, particularlyin auto manufacturing, energy, mining and minerals, transportation, andpetrochemicals.
He said that Czech enterprises can share experience with their Vietnamese peers in developing renewable energy andimproving power transmission./.
