Two-way trade between Vietnam and Switzerland rose 11 percent year on year, reaching 167 million USD during the first two months of this year, said Luong Manh Hung, Trade Counsellor at the Vietnamese Embassy in Switzerland.

During the period, Vietnam exported 122 million USD worth of goods to Switzerland, 14 percent more than last year, while its imports hit 45 million USD, an increase of 45 percent.

Export turnover for machines and electrical equipment also boomed. This revealed a major structural shift in Vietnam’s exports, Hung said, since the Asian country previously exported mostly gold to Switzerland.
Vietnamese enterprises needed to improve their understanding of Swiss quality standards and sharpen their products’ competitiveness in order to boost exports, he said, explaining that the European country with a small population of eight million enforces strict quality requirements.

Organising trips for Swiss enterprises to come to Vietnam to seek business opportunities is a major priority for the trade office, according to Hung.

The office plans to join hands with the Asian-Swiss Chamber of Commerce to bring 15-20 small and medium sized Swiss enterprises to Vietnam to explore the market this year.-VNA