VN-Czech Business Forum Held

2:28:01 PM | 27/11/2019

The Viet Nam-Czech Business Forum was jointly organized by the Viet Nam Chamber of Commerce and Industry (VCCI) and the Czech Embassy in Viet Nam on November 22.

The event took place within the visit of Czech Minister for the Environment Richard Brabec to Viet Nam.

Speaking at the forum, Vice President of VCCI Doan Duy Khuong highlighted on the fruitful development in Viet Nam-Czech relations over the recent 70 years in all spheres of economics, culture, education and environment.

The two-way trade value hit US$307 million in 2018, of which Viet Nam’s exports and imports were estimated at US$180 million and US$127 million.

Viet Nam mainly exports mobile phones, footwear, aquatic products, garments, farm products such as coffee, peppercorn, fruits, tea, rice, rubber and handicrafts to the Czech Republic while importing computers, electronics, spare parts, machines, tools and beer from the European country.

The Czech Republic has poured US$91.3 million in 35 projects in Viet Nam, ranking 42nd among 101 nations and territories investing in the Southeast Asian nation, focusing on real estate, beer, electronics and building materials.

The Czech Republic has been listed among Viet Nam’s prosperous export markets in 2010-2020 period.

However, Khuong said that the bilateral trade value has not commensurate with their potentials, suggesting the two sides strive to improve the two-way trade value in the upcoming time.

Richard Brabec said that the Czech Republic considers Viet Nam as the strategic market and the crucial gateway to get access to ASEAN, adding that more Czech businesses are concerned about investment and business opportunities in Viet Nam.

In the upcoming time, as the EU-Viet Nam Free Trade Agreement officially takes effect, it will bring more chances for enhancing trade and investment for both sides, he added.