Trade between Vietnam and Austria has been rapidly expanding overrecent years, largely as a result of improved market analysis andresearch efforts targeting specific market segments, radio The Voice ofVietnam (VOV) has reported.
As a case in point, in the first weekof October, a delegation of 12 representatives from Austrian businessesmade a fact-finding tour of Ho Chi Minh City seeking partners andcooperation opportunities.
They specifically limited the focus oftheir tour to a relatively small number of market segments in areas forwhich they possess export strengths including dietary supplements,waste treatment, banking and finance.
Meanwhile, they alsogathered information on Vietnamese export strengths with an eye toidentifying mutually beneficial trade and cooperation opportunities.
TheGeneral Department of Vietnam Customs reports that Vietnam mainlyimports wooden furniture, plastic materials, machinery and medicine fromAustria. The country’s key export items to the European nation includefootwear, garment and apparels, electronic components and bags.
In the seven months leading up to August, exports to Austria jumped 16.61 percent to 1.35 billion USD.
Thereis a tremendous potential and opportunity for Vietnamese businesses toboost exports to Austria, Stephan Spazier, commercial attaché of theAustrian Embassy in Vietnam, was quoted as saying.
Austria isalso eager and willing to share experience with Vietnam in potentialfields, including energy, manufacturing industry, environment and healthcare, Spazier added.
Vice Chairman of the Vietnam Chamber ofCommerce and Industry (VCCI) Nguyen The Hung in turn said bilateraltrade relations between the two countries in recent years has witnessedsignificant expansion.
Two-way trade turnover skyrocketed to 1.9billion USD in 2013 from 139.8 million USD in 2005, making Austria oneof the top eight importers of Vietnamese products in the European Union.
VOVcited leading market analysts as saying that Austria is a highlylucrative market with a history of stable economic growth. ItsGovernment is proactive and progressive in implementing policiesoriented to the Asian market. Local businesses should reach out andgrasp the opportunities the Austrian market offers to promote long-termand sustainable exports.-VNA
As a case in point, in the first weekof October, a delegation of 12 representatives from Austrian businessesmade a fact-finding tour of Ho Chi Minh City seeking partners andcooperation opportunities.
They specifically limited the focus oftheir tour to a relatively small number of market segments in areas forwhich they possess export strengths including dietary supplements,waste treatment, banking and finance.
Meanwhile, they alsogathered information on Vietnamese export strengths with an eye toidentifying mutually beneficial trade and cooperation opportunities.
TheGeneral Department of Vietnam Customs reports that Vietnam mainlyimports wooden furniture, plastic materials, machinery and medicine fromAustria. The country’s key export items to the European nation includefootwear, garment and apparels, electronic components and bags.
In the seven months leading up to August, exports to Austria jumped 16.61 percent to 1.35 billion USD.
Thereis a tremendous potential and opportunity for Vietnamese businesses toboost exports to Austria, Stephan Spazier, commercial attaché of theAustrian Embassy in Vietnam, was quoted as saying.
Austria isalso eager and willing to share experience with Vietnam in potentialfields, including energy, manufacturing industry, environment and healthcare, Spazier added.
Vice Chairman of the Vietnam Chamber ofCommerce and Industry (VCCI) Nguyen The Hung in turn said bilateraltrade relations between the two countries in recent years has witnessedsignificant expansion.
Two-way trade turnover skyrocketed to 1.9billion USD in 2013 from 139.8 million USD in 2005, making Austria oneof the top eight importers of Vietnamese products in the European Union.
VOVcited leading market analysts as saying that Austria is a highlylucrative market with a history of stable economic growth. ItsGovernment is proactive and progressive in implementing policiesoriented to the Asian market. Local businesses should reach out andgrasp the opportunities the Austrian market offers to promote long-termand sustainable exports.-VNA
