Bright outlook for Viet Nam - Czech Republic trade

Tuesday, Jul 24, 2018 15:34

Bilateral trade between Viet Nam and the Czech Republic reached nearly US$464.5 million in H1 2018. — Photo VNA

The outlook looks bright for two-way trade between Viet Nam and the Czech Republic, as the two countries’ import-export turnover in the first five months of this year reached nearly US$464.5 million, up 15.6 per cent from the same period last year.

Viet Nam mostly exported seafood, farm produce, food, tea, coffee, rubber, chemicals, electronics and footwear, the Viet Nam Trade Office in the Czech Republic cited sources from the Czech Statistical Office as saying.

Products with the highest revenue included electronics with over $140 million, and footwear products with $110.6 million.

Exports of rubber, chemicals, leather products, garment materials, knitwear, boilers and mechanical products, engines and wooden furniture also fetched from $10-31 million.

Vietnam imported electronics, mechanical equipment, plastic products, military equipment, seeds, pharmaceuticals, medicinal plants and industrial tree varieties.

In 2017, two-way trade between the two countries exceeded $1 billion for the first time to hit $1.02 billion, a rise of 12 per cent over the previous year.

However, trade turnover remained modest compared to the economic potential and real demand of both markets.

Currently, the Czech Republic is keen on fostering cooperation with Viet Nam in the areas of environmental protection, mining technology, construction technology, chemicals, telecommunications, radar, industrial and agricultural machinery, biotechnology and nanotechnology.—VNS

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