Vietnam expects to open Vietnam-Czech trade promotion centre in Prague

It is necessary to establish a Vietnam-Czech trade promotion centre in Prague to boost trade activities between the two countries, said Vietnamese Ambassador to the Czech Republic Truong Manh Son.

At the meeting in Prague on March 10
At the meeting in Prague on March 10

The ambassador made the remark at a meeting with representatives of Vietnamese enterprises in the Czech Republic, in Prague on March 10.

Almost all enterprises agreed with the ambassador, saying that the centre will help provide accurate information about the Vietnamese market for Czech entrepreneurs to increase their investment in Vietnam.

Ambassador Son emphasised that both Vietnam and the Czech Republic pay significant attention to each other's markets and the two economies are not competitive, but rather support each other.

In its import-export strategy until 2020, the Czech Ministry of Industry and Trade defines Vietnam as one of its 12 prioritised markets — Vietnam is the only Asian country included in the list. The Vietnam Ministry of Industry and Trade also put the Czech market on the list of its potential markets.

In the first half of 2014, two-way trade revenue between Vietnam and the Czech Republic was posted at US$652 million, a year-on-year increase of 18%.

Ambassador Son affirmed the important role of Vietnamese businesses in the Czech Republic in fostering the economic co-operation between the two countries. However, he said that the bilateral co-operation has yet to reach its potential, which requires Vietnamese enterprises in the Czech Republic to further promote their role as a bridge between the two countries.