At the Vietnam – Czech Business Forum held by Vietnam Chamber of Commerce and Industry (VCCI) in Hanoi on November 21, nearly 100 enterprises from both countries found opportunities to introduce their activities and seek business cooperation in the future.
Led by Czech Finance Minister Vlastimil Tlusty, the Czech delegation comprised nearly 20 prestigious companies in the fields of agricultural machinery, transportation of goods, trade facilitation, banking, construction, mechanics, and mining equipment and technology. At the meeting, the Czech enterprises expressed their desire to develop long-term business cooperation with Vietnamese partners.
The two-way trade turnover between both countries recorded an average annual growth rate of 10 per cent between 2001 and 2005. It reached US$50 million in the first six months of 2006 and is estimated to stand at more than US$100 million for the whole year of 2006. Vietnam mainly exports farm products, food, garments and textiles to the Czech Republic, and import equipment, machinery, glassware and medicine. The trade balance is always in favor of Vietnam. Mr. Doan Duy Khuong, Vice President of VCCI, said that the Czech Republic wanted to increase their exports to Vietnam to strike a more balanced trade relation. Therefore, they urged Vietnam to reduce tariffs levied on their brewage and crystal products.
So far, investment projects from the Czech Republic to Vietnam have totaled over US$35 million, mainly focusing on glassware, crystal products, electrical equipment, kaolin and construction materials. Apart from these areas, Czech companies possess great strengths in energy, transportation (locomotives, railroad cars, buses & tramcars), and mechanics (equipment and machinery, agricultural machinery, irrigational equipment), etc.
The Czech Republic regularly participates in the Consultative Group (CG) Meetings for Vietnam and has so far granted about US$18 million of ODA to Vietnam. The Czech Republic has pledged to provide US$1.2 million of ODA to Vietnam in 2006, most of which will be focused on environmental protection, agriculture, labor, modernization of industrial infrastructure. Through an EU programme, the Czech Republic pledged US$200,000 to support Vietnam’s efforts of preventing the avian influenza pandemic.
At present, there are more than 40,000 Vietnamese citizens living and working in the Czech Republic. They constitute an important bridge in strengthening the traditional relationship between the two countries in the fields of trade, culture and education.
Lan Anh
Vietnamese
