Prague (VNA) – Potential for economic cooperation, especiallyopportunities created by the EU-Vietnam Free Trade Agreement (EVFTA), betweenVietnam and the Czech Republic was introduced to Czech offices, organisationsand enterprises at a seminar in Prague on December 5.

Jointly held by Vietnam’s Embassy and the Ministry ofIndustry and Trade and the Czech Republic’s Economic Chamber, the seminarattracted the participation of Vietnamese Ambassador Ho Minh Tuan, leadingofficials from the Economic Chamber and over 100 representatives from the Czechministries of Industry and Trade, and Agriculture, the Confederation ofIndustry, and local businesses.

Speaking at the event, Ambassador Tuan said that Vietnam andthe Czech Republic enjoy a time-honoured friendship, which serves as a firmfoundation to intensify bilateral cooperation, especially in economy and trade.

The two countries’ economic and trade ties are developingwell, reflected through an annual growth rate of over 15 percent in two-waytrade in recent years, he stated, adding that the trade turnover is projectedto hit 1.2 billion USD this year, doubling that of 2013.

Highlighting the significance of the EVFTA, the diplomatsaid that the deal will create favourable conditions for enterprises from theEuropean Union (EU), including the Czech Republic, to do long-term business andinvestment in Vietnam and expand the export of machinery, pharmaceuticalproducts, chemicals and means of transport to the Vietnamese market. At thesame time, Vietnam can increase the export of footwear, garment and textiles,farm produce, seafood, wood products and industrial consumer goods to the EU.

Tuan suggested local authorized offices and enterprises takeactions to help speed up the signing and ratification of the EVFTA so as tofacilitate bilateral economic collaboration.

Bořivoj Minar, Vice President of the Czech Chamber ofCommerce, agreed with Tuan’s remarks on the potential for economic cooperation,especially opportunities brought by the EVFTA.

The Czech Republic has the strength in machinemanufacturing, mining, food processing and beer production and is willing tocollaborate with Vietnam in these fields, he stated, affirming that Czechenterprises can share experience and transfer technology to help Vietnamesepartners produce and export their products on their own.

Jaromir Dudak, head of the Asia section of Ministry ofIndustry and Trade, said the EVFTA will benefit both the Czech Republic andVietnam, especially in increasing two-way trade and his country’s investment inVietnam.

The Czech Republic considers Vietnam as its traditional andpotential trade partner, and a bridge for the export of Czech products to othermarkets in the Association of Southeast Asian Nations (ASEAN). Therefore, thecountry hopes Vietnamese offices will introduce trusted names to its enterprisesto set up partnership, he said.

Within the framework of the seminar, the Vietnamese Embassyalso organized a photo exhibition featuring Vietnam’s land and people as wellas its potential and achievements.-VNA