Improving Cooperation between the Czech Republic and Vietnam

On February 27^th 2006 in Hanoi, a group of entrepreneurs accompanied the Chairman of the Czech Chamber of Deputies, Mr. Lubomir Zaoralek, on his working visit to Vietnam and his meeting with the Vietnam Chamber of Commerce and Industry (VCCI).

 

Mr. Lubomir Zaoralek said that, Czech people paid a lot of attention to Vietnam’s socio-economy development in recent years. Based on the former’s cooperation, Vietnam and the Czech Republic should further competitive proposals in all fields of cooperation in the development of relations between the two countries.

 

The Chairman of VCCI, Mr. Vu Tien Loc emphasized that, Vietnam appreciates the importance of relations with the Czech Republic. Enterprises visiting Vietnam this time are mostly from mechanical operations in which Vietnam needs to develop. He also hopes that Vietnam and Czech enterprises will further their cooperation and business with each other after this visit.

 

Currently, mutual cooperation in business has reached an appropriate level. Even though the two countries have signed several agreements to tackle difficulties such as an Agreement on using the workforce of Czech and Vietnamese citizens, double taxation avoidance agreements and an Agreement on how to avoid loss of income tax and property tax, and have signed a bilateral agreement on investment assistance and protection.

 

Looking at the trade exchange balance, Vietnam’s export is noticeably higher while other cooperative measurements, which benefit both sides, have not been appropriately considered. Currently, Vietnam exports footwear’s, coffee, garment, electric machinery and woodworks to the Czech Republic and imports power-looms, animal tanning machines, glassware, pumps, compressors and fans for ventilation.