Vietnam-Slovakia: Great Prospects for Economic Cooperation

Vietnam and Slovakia have the great prospects for economic cooperation, Mr Peter Svitek, Slovakian Ambassador to Vietnam, said at a Vietnam-Slovakia business meeting in Hanoi on October 26. The meeting was co-held by the Vietnam Chamber of Commerce and Industry (VCCI) and the Slovakian Embassy in Hanoi on the occasion of the visit by a Slovakian business delegation to Vietnam.

Vietnam has an important position in Southeast Asia as well as Asia. Like Vietnam, Slovakia witnessed positive progresses in economic development. Slovakia has developed industry infrastructures. Mr Peter Svitek hoped Slovakian businesses will succeed in seeking partners in Vietnam.

“Direct contact is the most effective way for enterprises of the two countries to promote trade and this is the good chance for enterprises of the two nations to boost trade ties and materialise activities,” said Mr Peter Svitek.

According to Mr Peter Svitek, Slovakian companies want to cooperate with Vietnamese partners in such fields as heavy industries, large gearbox production, railroad car production, wind-to-power production, electrical service, electric systems for companies, etc.

However, according to Mr Doan Duy Khuong, Vice President of VCCI, although trade and investment ties between the two business communities have significantly grown in recent years, the bilateral trade revenue has not matched the two countries’ potential and demands. Mr Khuong said Vietnam and Slovakia’s economic structures could complement the other. With its flexible economic mechanism, Vietnam can be a gateway for Slovakian goods to enter the markets of other ASEAN and Asian countries while Slovakia can be an important partner and gateway for Vietnamese commodities to penetrate into the EU market. This is an important channel for the two countries to boost trade.

Posted by VBN on Nov 6 2009. Filed under Int'l Cooperation. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry