Bright signs in Vietnam - Czech Republic trade

09:32 | 25/07/2018 MUTRAP Corner

Bright signs have been seen in two-way trade between Vietnam and the Czech Republic, as the two countries’ import-export turnover in the first five months of this year reached nearly US$464.5 million, up 15.6 percent from the same period last year.

A seminar on Vietnam - Czech Republic trade and economic cooperation held recently in Prague - Photo: VOV

Vietnam mostly exported to the Czech Republic seafood, farm produce, food, tea, coffee, rubber, chemicals, electronics, and footwear, the Vietnam Trade Office in the Czech Republic cited sources from the Czech Statistical Office.

Products seeing highest revenue included electronics with over US$140 million, and footwear products with 110.6 million USD.

Exports of rubber, chemicals, leather products, garment materials, knitwear, boilers and mechanical products, engine vehicles, and wood furniture also fetched from US$10 million - US$31 million.

Meanwhile, Vietnam imported from the European nation electronics, mechanical equipment, plastic products, military equipment, seeds, pharmaceuticals, medicinal plants, and industrial tree varieties.

In 2017, two-way trade between the two countries exceeded US$1 billion for the first time to US$1.02 billion, a rise of 12 percent over the previous year.

However, trade turnover remained modest compared to the economic potential and real demand of both markets.

Currently, the Czech Republic is keen on fostering cooperation with Vietnam in areas of environmental protection, mining technology, construction technology, chemicals, telecommunications, radar, industrial and agricultural machineries, biotechnology and nanotechnology.

Theo VNA