Vietnam-Romania: New Era of Cooperation

Speaking at the forum, Deputy Prime Minister Trinh Dinh Dung highly valued the long standing friendship between Vietnam and Romania. In 2015, the two countries celebrated 65^th anniversary of the establishment of diplomatic relations (1950-2015) marking the solid cooperation and development.

 

In the past war of resistance, Romania extended to Vietnam moral and material support, training thousands of doctors, engineers as well as technicians on oil and gas, construction, manufacturing, energy and agriculture. Several projects have been developed such as Hai Phong cement plant, Khe Cham anthracite mine. Romanian products have been well-known in Vietnam such as Diesel locomotive, railway wagons, Roman trucks, pharmaceuticals, steel and machines.

 

The bilateral trade value in 2014 recorded at US$150 million with 2/3 by Vietnamese export. In 2015, it increased to US$170 million with some US$102 million by Vietnamese export. However, it remains modest in comparison with the potentials and the long standing friendship between the two countries.

 

Therefore, Mr Dung believed that the two governments should upgrade the cooperation in promising fields, exchange high-level and business delegations to promote bilateral relations.

 

 “The recent meeting of the Inter-governmental Committee was held successfully in Hanoi with several recommendations to upgrade bilateral relations. Related ministries and agencies should timely implement the decision so that business communities and peoples of the two countries can share the new achievements of Vietnam-Romanian friendship. Chambers of Commerce and Industries of the two countries should accelerate trade promotion to ensure successful linkage and investment between the two countries”, Mr Dung said.

 

VCCI Vice President Hoang Quang Phong believed that Romania is the biggest marketing Southern Europe (population of 21 million people and area ranked 7^th in Europe) is an entry gate to EU of over 500 million consumers and relations with countries in Balkan and CEL. Furthermore, Romania is situated in the meeting point of three economic corridors of Europe advantageous for maritime transport. Romania is strong in such sectors as gas and oil, petrochemical, architecture, seaports, medical and agricultural processing, while it needs to import from Vietnam tropical products and consumers’ goods. 

 

Presently, there are some 600 Vietnamese living in Romania; they engage mainly in garment sales at “Dragon” commercial centre, Bucharest; while Romania extends strong support to Vietnam in education with scholarship starting from 2006 for Francophone countries. With fine bilateral relations, Romanian government considers Vietnam a traditional partner, an important bridgehead in cooperation with countries in South East Asia.

 

For its part, Vietnam as a major market with over 90 million people, a strategic location in South East Asia, member of several economic structures such as WTO, AEC, EU, together with stable socio-economic environment, dynamic economy, and abundant workforce is an attractive destination for foreign investors.

 

Mr Phong reaffirmed that Vietnam and Romania are in golden time to promote bilateral trade which so far has been below the fine tradition and potentials of the two countries.

 

So far, business communities of the two countries have poor communications on each other, especially on capacity and products. Legal environment has been slow in improvement, lacking cooperation agreements on banking, customs, and tourism. Beside geographical distance and high transport cost, businesses are confronted with difficulties in customs and payment”, Mr Phong said.

 

Mr Phong believed that in addition to the support of the two governments, businesses should make greater efforts. For its part, VCCI has always assisted business community in developing strategy and business activities. Regarding Romania, VCCI has signed bilateral agreement on assistance to businesses such as organizing business forum, dialogue on investment environment and policy, sharing experiences on spearheaded sectors of Vietnam and Romania.

 

Speaking at the business forum, Prime Minister Dacian Cioloș highlighted the tradition and understanding between the two countries. Two countries will have more opportunities and advantages in developing trade and economy. Romania is a dynamic economy in Europe with strategic location and skilled workforce, favourable in both production and labour. Meanwhile tax and financial policies are most competitive in Europe. The objective of Romania in the coming years is to increase trade value with countries in South East Asia, including Vietnam.

 

 “Two countries are long standing partners in such sectors as construction, mining, railways and many others namely energy, oil and gas, infrastructure, transport. Romania can develop joint ventures with Vietnamese businesses or technology transfer in such areas in the future”, Prime Minister Dacian Cioloș reaffirmed.