Vietnam seeks Romanian, Czech help on trade pact

08:38 | 07/05/2019 MUTRAP Corner

(VEN) - Prime Minister Nguyen Xuan Phuc and his wife paid official visits to Romania and the Czech Republic from April 14 to 18 to strengthen the traditional friendship and multifaceted cooperation with these countries and seek their support in relations with the EU, especially in promoting the signing of the EU-Vietnam Free Trade Agreement (EVFTA).

vietnam seeks romanian czech help on trade pact

Romania pledges help on EVFTA

At their talk, Vietnamese Prime Minister Nguyen Xuan Phuc and his Romanian counterpart Viorica Dancila agreed to hold the 16th meeting of the Vietnam-Romania Joint Committee on Economic Cooperation in mid-2019.

In 2009, the two sides signed an agreement on economic cooperation, based on which the 14th meeting of the Vietnamese-Romanian Inter-Governmental Committee on Economic, Scientific and Technical Cooperation took place in June 2010 in Bucharest and the 15th session of the committee was held in June 2016 in Hanoi.

Prime Minister Viorica Dancila affirmed that Romania would do its best to promote the signing of the long awaited free trade agreement as well as of an investment protection agreement between Vietnam and the EU. Romania currently hold the presidency of the organization.

Huge economic cooperation potential

Vietnamese-Romanian trade has grown steadily in recent years. Vietnam exports coffee, seafood, pepper, textiles, garments, leather shoes, and computer components and imports chemicals, fertilizers, construction steel, resins, oil and gas drilling equipment, and wood products. Romania has become a major importer of Vietnamese seafood since 2010, buying about 12,000 tonnes per year. Bilateral trade increased from US$205.7 million in 2017 to US$218.3 million in 2018.

As of late 2017, Romania had three investment projects totaling US$2.1 million in registered capital in Vietnam. Vietnamese businesses have no projects in Romania.

The two prime ministers said the potential for bilateral cooperation is large and the two countries should strengthen links in areas in which they are strong and/or have development needs. They praised the cooperation between the two countries’ localities. Leaders of five Vietnamese localities accompanied Prime Minister Nguyen Xuan Phuc during his visit to Romania to seek cooperation opportunities with Romanian localities. The two prime ministers said such important cooperation should be promoted with specific, practical and efficient projects.

Prime Minister Nguyen Xuan Phuc addressed the Vietnam-Romania Business Forum, talked with officials of localities cooperating with Vietnamese partners, and met Vietnamese citizens residing in Romania.

The two prime ministers witnessed the signing of a memorandum of understanding on agricultural, veterinary and food safety cooperation between the Vietnamese Ministry of Agriculture and Rural Development and the Ministry of Agriculture and Rural Development and the National Sanitary Veterinary and Food Safety Authority of Romania. In the Czech Republic, Prime Minister Phuc held talks with Prime Minister Andrej Babis and President Milos Zeman, addressed the Vietnam-Czech Business Forum, and met with the Vietnamese community.

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