Commercial ties with the Czech Republic blooming

VGP - Việt Nam’s Trade Office in the Czech Republic predicted that this year Việt Nam will earn US $330 million from its exports to the Eastern European country, up 27% compared with that of 2008. Of the figure, earnings from footwear may reach US $80 million, 26% higher than last year.

January 20, 2009 8:00 AM GMT+7

Footwear, together with garments, is a major export of Việt Nam to the Czech Republic, earning US $64 million in 2008

According to the Ministry of Planning and Investment, by September 22, 2008, Czech businesses invested US $54 million in 15 projects in Việt Nam, with the up-to-date disbursement of US $27.51 million. The Czech Republic ranks 40 of 81 countries and territories investing in Việt Nam. Its major areas include glass and crystal wares, electrical appliances, cement, ceramics and building materials.

In 2007, the two-way trade turnover stood at US $127 million. Czech exports to Việt Nam, mainly means of transport, construction machinery, airplane spare parts, consumer goods, leather wear and electrical appliances, amounted to US $23 million.

Meanwhile, Việt Nam exported about US $102 million to the Czech Republic (mainly agro-produce, garments, footwear, handicraft items, and computer spare parts)

To accelerate export to this potential European market, Việt Nam’s Trade Office in the Czech Republic suggested establishing showrooms there apart from conventional promotional campaigns such as study tours, workshops, trade fairs and business forums.

The Czech Republic is now Việt Nam’s important trade partner who can help made-in-Việt Nam goods penetrate into the European Union market.

Việt Nam is also a promising gateway for Czech goods to access to ASEAN. The bilateral trade ties are flourishing commensurate to the two countries’ potentialities and economic need.

By Ngọc Vân