Vietnam-Czech Biz Forum Held in Hanoi

The Vietnam Chamber of Commerce and Industry (VCCI) November 11 organized the Vietnam-Czech Republic Business Forum to facilitate businesses from the both sides to seek more cooperation opportunities.

 

Speaking at the forum, VCCI’s Vice President Doan Duy Khuong stressed that the Czech Republic will become an increasingly important partner for Vietnam, providing a gateway for Vietnamese commodities to enter the EU market, adding that with the introduction of flexible mechanisms, Vietnam can act as a bridge for Czech goods to become available in the ASEAN market.

 

Although trade and investment relations between Vietnamese and Czech business communities have developed significantly in recent years, bilateral trade has yet to make the most of the potential offered by the two sides, Khuong said.

 

He elaborated that Vietnam exported agricultural products, garments and textiles, footwear, handicrafts and computer components totaling US$102 million to the Czech Republic and imported vehicles, civil engineering and electrical equipment, and airplane parts costing US$23 million in 2007.

 

The Czech Minister for Industry and Trade, Martin Riman, said that the Czech Republic’s businesses are hopeful that they can compete in the energy, auto industry, environmental and service sectors in the Vietnamese market.

 

Participants at the forum also witnessed the signing of an agreement on Hanoi-Haiphong auto expressway by Vietnamese and Czech businesses.

 

The Czech Republic had invested in 15 projects valued at nearly US$54 million in Vietnam as of September 22 this year, ranking 40th out of 81 countries and territories investing in the country, said the Ministry of Planning and Investment.