The Vietnamese Embassy together with the association of Vietnamese enterprises in the Czech Republic earlier this week held a forum on promoting trade and investment between the nations.

Speaking at the event, Vietnamese Ambassador to the Czech Republic Thai Xuan Dung highlighted the importance of trade and investment promotion, particularly when both countries and others are seeking solutions for post-pandemic recovery.

He said the forum aimed to help participating firms discuss issues related to the EU-Viet Nam Free Trade Agreement (EVFTA) so that they could come up with more suitable business plans and strategies.

Trade between the nations hit US$936 million in the first half of 2021, up 28 per cent on-year, thanks to both sides’ efforts and the EVFTA’s impact.

Participants focused their discussion on opportunities for Vietnamese enterprises with the coming-into-force of the EVFTA and challenges for trade and investment promotion amid COVID-19.

They talked about problems in cooperation and seeking partnerships. They also gave initiatives to help Vietnamese competent agencies support Vietnamese firms in recovering production and business and in boosting collaboration with partners from the EU and the Czech Republic.

In an interview with the Vietnam News Agency on the sidelines of the event, Nguyen Manh Tung, former head of an association of young entrepreneurs in the Czech Republic, said currently many Czech businesses wanted to learn about their Vietnamese peers, Viet Nam's export products, and changes brought about by the EVFTA to find opportunities for cooperation.

Their biggest restrictions are the language barrier and a shortage of information on Vietnamese companies and products, according to Tung. He recommended boosting the sharing of Viet Nam’s production and logistics processes for the Czech side. — VNS