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Vietnam, Czech Republic eye $1bln in two-way trade

Vietnam, Czech Republic eye $1bln in two-way trade

Saturday, April 22, 2023, 10:41 GMT+7
Vietnam, Czech Republic eye $1bln in two-way trade
Vietnamese Prime Minister Pham Minh Chinh (R) shakes hands with his Czech counterpart Petr Fiala before their talks in Hanoi, April 21, 2023. Photo: Nam Tran / Tuoi Tre

Vietnamese Prime Minister Pham Minh Chinh and his Czech counterpart Petr Fiala agreed to raise the bilateral trade to US$1 billion in the next couple of years during their talks in Hanoi on Friday.

To fulfill the trade target, both sides discussed various measures to beef up cooperation in all fields, as well as considered a plan launching a Vietnam-Czech direct air route to encourage more Czech investors to invest in the Southeast Asian nation.

The two countries will continue the implementation of the EU-Vietnam Free Trade Agreement (EVFTA), which took effect from August 1, 2020.

Vietnam called on Czech businesses to bolster investment in Vietnam, especially in the fields of automobile, digital transformation, renewable energy, environment, and infrastructure development, PM Chinh said.

The Vietnamese government leader also proposed the Czech side create favorable conditions for Vietnamese agro-fishery products to enter the Czech market.

Prime Minister of the Czech Republic Petr Fiala (C) stated the Czech Republic always considers Vietnam as the most important partner in Southeast Asia and wished to further advance cooperation with Vietnam in all fields. Photo: Nam Tran / Tuoi Tre
Prime Minister of the Czech Republic Petr Fiala (C) stated the Czech Republic always considers Vietnam as the most important partner in Southeast Asia and wished to further advance cooperation with Vietnam in all fields. Photo: Nam Tran / Tuoi Tre

According to the Vietnamese Ministry of Foreign Affairs, the two PMs also endorsed a plan launching direct flights linking the two countries to promote investment, tourism, and people-to-people exchanges.

Besides, the two leaders agreed to speed up cooperation in security-defense, culture, education-training, labor, science-technology, transportation, and tourism.

PM Chinh called on the Czech side to continue pushing other EU member states for early ratification of the EU-Vietnam Investment Protection Agreement (EVIPA).

The Czech prime minister, who is paying an official visit to Vietnam from April 21 to 22, stated that Vietnam is a potential trade partner of the Czech Republic.

More Czech businesses have sought to invest in or expand their investment in Vietnam.

PM Fiala added that the Czech Republic advocated the EU-Vietnam cooperation in promoting sustainability in the fishery sector and supported the European Commission’s early removal of the yellow card imposed on Vietnamese fishery exports.

After their talks, the two PMs attended the signing ceremonies of mutual legal assistance agreements in criminal, investment and education.

Vietnamese and Czech prime ministers Prime Minister Pham Minh Chinh (R, 1st) and his Czech counterpart Petr Fiala (L, 1st) witness the signing ceremonies of cooperation agreements between the two nations’ ministries and agencies in Hanoi, April 21, 2023. Photo: Nam Tran / Tuoi Tre
Prime Minister Pham Minh Chinh (R, 1st) and his Czech counterpart Petr Fiala (L, 1st) witness the signing ceremonies of cooperation agreements between the two nations’ ministries and agencies in Hanoi, April 21, 2023. Photo: Nam Tran / Tuoi Tre

In related news, Vietnamese State President Vo Van Thuong hosted a reception for Prime Minister of the Czech Republic Petr Fiala the same day in Hanoi.

The state leader suggested both sides work closely together to implement agreements signed during the visit, fully tap the potential and opportunities to further beef up bilateral cooperation in the upcoming period.

For his part, the Czech prime minister affirmed that the two governments will tighten their cooperation and create optimal conditions for Vietnamese and Czech businesses to expand their investment.

President Thuong took this occasion to request PM Fiala to extend his invitation to President of the Czech Republic Petr Pavel to visit Vietnam at a proper time.

Vietnamese State President Vo Van Thuong (L) receives Prime Minister of the Czech Republic Petr Fiala in Hanoi, April 21, 2023. Photo: Vietnam News Agency
Vietnamese State President Vo Van Thuong (L) receives Prime Minister of the Czech Republic Petr Fiala in Hanoi, April 21, 2023. Photo: Vietnam News Agency

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Duy Linh - Hong Ngan / Tuoi Tre News

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