Vietnam-Belgium’s two-way trade reaches $1.2bln

Vietnam-Belgium’s two way trade has doubled over the last 10 years and expected to have an average increase of 10% year-on –year. The two countries’ current two-way trade is estimated at $1.2 billion,Bruno Angelel, Ambassador of Belgium at Hanoi said

The Kingdom of Belgium reaped around $272 million from exporting chemical products, pharmaceutical products, machines and equipments, steel and other metal products to Vietnam, meanwhile Vietnam earned about $1 billion from exporting foot-ware, garments and textiles, wood products, gemstone, coffee, sea-food to the European country.

Belgium will help Vietnam to improve policies to encourage development and effectiveness of “young business gardens” by aiding short term funds for the small and medium enterprises (SMEs) at their opening business period.

The Kingdom of Belgium also granted funds for non-government organizations in labor, rural development, communal health sectors.

Besides, Belgium also is going to fund a clean water project to limit the climate change in Ninh Thuan, Binh Thuan and Ha Tinh provinces.

The European country will give in average of $30 million Official Development Assistance to Vietnam each year. The ambassador said without saying in elaboration.

Belgium is now the sixth trade partner of Vietnam in the Europe. The information was provided in the anniversary of the Belgium King’ Date on November 15.

Source TEI/StoxPlus

Tags: Vietnam Belgium trade

Posted by VBN on Nov 12 2011. Filed under Import-Export. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry