Vietnam, Czech Republic boost trade links

President of the Senate of the Czech Republic Milan Stech (Source: Tyden.cz)

HCM City (VNA) - A Vietnam-Czech business forum was held on November 19 in Ho Chi Minh City as part of President of the Senate of the Czech Republic Milan Stech’s official visit to Vietnam from November 15-20.

The function, co-hosted by the Vietnam Chamber of Commerce and Industry (VCCI) and the Czech Chamber of Commerce, aimed at creating opportunities for Vietnamese and Czech enterprises to further links in trade and investment.

The forum brought together 50 Vietnamese firms and 15 Czech enterprises operating in the fields of chemicals, insurance, mechanics, construction, medical equipment, and automation.

Addressing the event, VCCI Vice Chairman Vo Tan Thanh said the Czech Republic is one of Vietnam’s strategic export markets and bilateral trade have enjoyed stable growth in recent years, hitting 294 million USD in 2014, up nearly 24 percent from a year earlier.

The European country is currently ranked 44 th out of 105 overseas countries and territories investing in Vietnam with 37 projects worth 92 million USD, mainly in energy, transport, machinery, and equipment.

Milan Stech said the Czech Republic considers Vietnam one of the 12 most potential markets.

The two countries have signed 50 state-level agreements and Vietnam and the European Union are likely to sign a free trade agreement in the near future.

He said he hoped the Vietnamese and Czech business communities will grasp opportunities to boost bilateral trade and investment cooperation.-VNA