PM Calls for Breakthrough in Vietnam – Romania Economic Ties

3:00:39 PM | 4/16/2019

Prime Minister Nguyen Xuan Phuc called for a breakthrough in Vietnam – Romania economic, trade and investment ties in his address to the Vietnam – Romania business forum in the capital city of Bucharest on April 15.

Speaking before hundreds of business delegates and investors, the PM hailed the Vietnam Chamber of Commerce and Industry, the Romania Chamber of Commerce and Industry and the Vietnamese Embassy in Romania for holding the event.

The PM informed participants about the outcomes of his talks with his Romanian counterpart, which he said will open up economic, trade and investment cooperation opportunities for the two nations.

He said despite annual growth, the two-way trade, which stood at 218 million USD last year, remains modest compared to their potential.

While the two governments have continuously worked to improve business climate, firms themselves must strive to expand their scale and adopt new ways of doing business, he said.

According to him, Vietnam’s membership in 12 free trade agreements and the European Union – Vietnam Free Trade Agreement (EVFTA) in the near future will open up opportunities for both sides to boost ties. He also took the occasion to urge the two countries’ chambers of commerce and industry to step up ties between firms.

Highlighting Vietnam’s advantages in foreign direct investment attraction, he particularly underlined the socio-political stability, improved competitiveness and innovation, a 100 million population and the goal of attracting 50 million tourists.

The Government leader wished that Romanian enterprises would push for the signing and ratification of the EVFTA. He suggested the two sides enhance science-technology collaboration, launch direct flights, and facilitate the import of quality farm produce and pharmaceuticals.

Romanian business representatives wished that the two governments would further facilitate cooperation opportunities, especially in labour export, industry, culture and education. They expressed willingness to partner with Vietnamese firms, particularly small and medium-sized ones.

They backed the signing of the EVFTA, saying that it will make it easier for EU and Romanian to do business in Vietnam.

Source: VNA