THE SOCIALIST REPUBLIC OF VIET NAM
Government News
Viet Nam, Czech Republic target to raise two-way trade to US$1 billion
VGP - Prime Minister Pham Minh Chinh and his Czech counterpart Petr Fiala have agreed to raise the two-way trade from US$848 million in 2022 to US$1 billion over the next one to two years.
Prime Minister Pham Minh Chinh (R) and his Czech counterpart Petr Fiala, Ha Noi, April 21, 2023 - Photo: VGP/Nhat Bac
The two Prime Ministers reached the above agreement during talks in Ha Noi on April 21.
The target could be reached through full and effective implementaiton of the EU-Viet Nam free trade agreement which came into effect from August 1, 2020, according to the pair.
Both sides also agreed to improve the effectiveness of the joint committee for economic cooperation, encourage Czech businesses to accelerate investment in Viet Nam, particularly in such fields like car manufacturing, digital transformation, renewable energy, infrastructure development among others.
Prime Minister Pham affirmed that Viet Nam consistently wishes to promote relations with traditional friends including the Czech Republic.
He noted with pleasure that Prime Minister Petr Fiala's official visit to Viet Nam marks an important milestone which would help lift the good friendship and multifaceted cooperation between the two countries to a new stage of development.
The host took the occasion to applaud the achievements of the Czech Government and people in the post-Covid time.
In reply, Prime Minister Petr Fiala expressed his pleasure to visit Viet Nam for the first time, affirming that his country attaches great importance to the traditional friendship and cooperation with Viet Nam.
He reiterated that the Czech Republic always considers Viet Nam as the most important partner in Southeast Asia and wishes to further advance cooperation with Viet Nam in all fields.
The two Prime Ministers expressed their pleasure at the positive developments in the two countries' relations despite the Covid-19 pandemic.
As there remains vast potential for further cooperation, the two sides agreed on specific directions and measures to boost cooperation between the two countries in all fields.
In terms of economy and trade, the two leaders welcomed the swift growth of bilateral trade turnover in recent years, particularly since the trade deal bewteen Viet Nam and the EU took effect in 2022.
Prime Minister Pham took the occasion to call upon the Czech Republic to continue pushing for early ratification of the EU-Viet Nam Investment Protection Agreement (EVIPA) and for the European Commission's removal of "yellow card" against Viet Nam's seafood exports.
The two leaders agreed to beef up cooperation in security-defense, culture, education-training, labor, science-technology, transportation, tourism.
The two leaders also discussed on regional and international issues of common concerns.
The two countries agreed to continue to closely coordinate and support each other at international forums and organizations, especially promoting relations between ASEAN, the Czech Republic and the EU as well as cooperation within the framework of the United Nations and ASEM.
Regarding the East Sea, the two sides reaffirmed their support for peaceful settlement of disputes in accordance with international law, especially the 1982 United Nations Convention on the Law of the Sea (UNCLOS 1982).
After talks, they witnessed the signing ceremonies of cooperative agreements in the field of mutual legal assistance in criminal, investment and education./.