Saturday, November 17, 2007

Czech regards Vietnam top economic partner

The Czech government considered Vietnam one of the countries to get its top priority in stepping up bilateral economic, trade and investment cooperation, said Zdenek Kocarek, Director of the Czech Chamber of Commerce’s Foreign Department.

Director Kocarek predicted that there will be a wave of investment from the Czech Republic, especially after seven economic agreements valued at 3.5 billion USD, signed during the Czech Republic visit by Vietnamese Prime Minister Nguyen Tan Dung last September, come into operation.

The Czech Republic has invested 50 million USD in 13 projects, ranking 40 among 81 investors in Vietnam.

The country is expected to boost its exports to Vietnam in a hope of reducing trade deficit. Two-way trade between Vietnam and the Czech Republic stands at 150 million USD with two thirds from Vietnam’s exports of farm produce, seafood, garments, handicraft articles and computer components.

Vietnam is currently importing from the Czech Republic machinery, glassware, plastics, milk and milk products.

Director Kocarek has been in Vietnam from November 14 to 16 together with 20 businessmen who accompanied Czech Minister of Industry and Trade Martin Riman for a visit.