Vietnamese, Greek enterprises urged to foster trade partnership

Businesses of Vietnam and Greece were encouraged to promote cooperation in the trade of their products of advantage, especially in maritime transport, logistics, shipbuilding, sea port development, tourism and agricultural product processing, at a Vietnam-Greece Business Forum held in Hanoi on December 10.

At the forum (Photo:
At the forum (Photo:

Held by the Vietnam Chamber of Commerce and Industry (VCCI) on the occasion of the ongoing working visit to Vietnam by Deputy Foreign Minister of Greece Terens Nikolaos Quick, the event attracted the participation of representatives from 16 firms of Greece operating in the food industry, olive oil production, textile and garments, real estate, energy, and electricity.

During the event, the two sides highlighted the fine development of the bilateral cooperation between the two countries in recent years, and the potential for them to expand their bonds in the future.

According to Vice Chairman of the VCCI Doan Duy Khuong, Vietnam - Greece trade turnover increased from US$196 million in 2015 to US$335 million in 2017.

He underlined the need to promote economic and trade ties between the two nations, saying that Vietnam is now one of the most attractive consumption markets in the world.

Vietnam is considered a dynamically developing economy in Southeast Asia, becoming an attractive destination for foreign investors, he said, adding that the country has a strong export potential for farm produce, textiles, leather products and footwear.

It has been active and recorded remarkable achievements in reforming the economy, improving the business and investment environment, perfecting the legal and institutional system, and simplifying administrative procedures, Khuong stressed.

The country has also cooperated extensively with key partners, ratifying 10 bilateral and multilateral free trade agreements (FTAs) with regional and international partners, he highlighted, adding that around 60 economies have negotiated or are negotiating FTAs with Vietnam, including key trade partners that hold roughly 90 percent of Vietnam's trade turnover.

He called for support from the governments of both sides and more efforts from their businesses to further boost the bilateral trade ties.

For his part, Terens Nikolaos Quick affirmed that the fine traditional friendship between his country and Vietnam over the last 43 years is a solid foundation for the two sides to strengthen their multi-faceted cooperation in the future.

Vietnam and Greece have cooperated in the shipping industry and they are currently in the process of negotiating the signing of a cooperation agreement in this field.

It can be said that this is the most promising cooperation field for the two sides, he said, adding that, if implemented, it will become a big impetus to boost economic relations between the two countries.

The ratification of the European Union - Vietnam Free Trade Agreement (EVFTA) in the near future will also contribute to creating a legal corridor and opportunities to promote trade ties between the two countries, he said.