Vietnam, Hungary to bolster bilateral trade ties

14:18 | 20/10/2015 Cooperation

The Vietnam-Hungary Business Forum in Hungary’s capital city of Budapest on October 12 evaluated the status of economy and trade relations between Vietnam and Hungary, as well as cooperation opportunities when the EU-Vietnam free trade agreement is signed in the coming time.

Vietnam, Hungary to bolster bilateral trade ties

Enterprises exchange ideas for co-operation opportunities at the event (Source: VNA)

The forum was hosted by the Vietnamese Embassy in Hungary, the Vietnam Trade Promotion Agency (Vietrade), the Mutrap Project and the Hungarian National Trading House.

Speaking at the forum, Vietnamese Ambassador in Hungary Nguyen Thanh Tuan said Vietnam’s economy was developing constantly, with a high growth rate. The country’s gross domestic product was expected to reach over 6 percent this year, and Vietnam’s Government always created favourable conditions for domestic and foreign enterprises.

The diplomat said the EU was Vietnam’s second biggest trading partner, with two-way trade hitting nearly 37 billion USD in 2014. It was also the country’s large investor, with total investment capital reaching over 36 billion USD.

Director of Vietrade Bui Huy Son spoke about business and investment opportunities in Vietnam, as the country integrates more deeply into the world economy.

He added that Vietnam is an open market with an attractive business and investment climate. The country is willing to welcome Hungarian enterprises into Vietnam.

On the occasion, representatives from the Hungary Trade Development Agency and Exim-Bank introduced their services and pledged to support the two countries’ businesses.

Enterprises from Vietnam and Hungary at the forum exchanged ideas for co-operation opportunities in fields of apparel, agriculture, beverage, pharmaceutical products.

A contract to ship 200 tonnes of rice to a Hungarian partner was reached at the event.

In the first eight months of 2015, Vietnam’s export turnover to Hungary reached 122 million USD, an increase of 8.3 percent compared with the same period in 2014./.

Source: VNA