Vietnam and Slovakia need to hold more trade exchanges, increase multi-channel information dissemination and encourage businesses to establish representative offices in each country. (Photo: baodautu.vn) Hanoi (VNA) – Vietnam and Slovakia need to hold more tradeexchanges, increase multi-channel information dissemination and encouragebusinesses to establish representative offices in each country, according toparticipants to a Vietnam-Slovakia business forum.
The event, held on November 27 in Hanoi, was organised by the Vietnam Chamberof Commerce and Industry and the Slovak Investment and Trade DevelopmentAgency.
According to Vietnamese Ministry of Industry and Trade, two-way trade betweenthe two countries has jumped 40 times since 2004. Last year’s bilateralturnover increased by 52 percent compared to 2015, reaching 449 million USD. Inthe first 10 months of 2017, the figure hit about 630 million USD, up 80percent against the same period last year, making Slovakia one of the mostimportant trade partners of Vietnam in the Central and East Europe.
Vietnam’s primary exports to Slovakia include footwear, clothing, seafood,industrial machines and electronic equipment while the country mostly importsmechanical products, chemicals, and pharmaceuticals.
Speaking at the event, Slovak Deputy Prime Minister Peter Pellegrini said tradeopportunities between the two countries remain significant but reality has notyet matched potential. He also said Slovak businesses have expressed interest ininvesting in Vietnam in mechanical engineering, energy, construction materials,and environmental works.
Currently, Slovakia has nine FDI projects in Vietnam with total investmentcapital of 247 million USD, ranking 36th among 128 countries andterritories investing in the nation.
On the other side, Vietnam has only one ongoing project in Slovakia by the FPTcorporation with total investment of 447,000 USD. In addition, TH True Milk isalso planning to invest in projects concerning herbal drinks.
Pellegrini also believed that the EU-Vietnam Free Trade Agreement, onceratified, would “open up a new chapter in the two countries’ relations”.
“We are ready to support Vietnam and make Slovakia a gateway for Vietnam toaccess the EU market”, he said, adding that the Slovak government is committedto making ideal conditions for Vietnamese businesses investing in Slovakia.
Deputy Minister of Industry and Trade Hoang Quoc Vuong reiterated the twogovernments’ dedication to boosting ties. He also hoped businesses from the twocountries would find opportunities during this forum to collaborate.-VNA
VNA
