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Viet Nam, Slovakia to bolster economic ties

Update: November, 05/2014 - 08:06

Figures showed that last year, Viet Nam's exports to Slovakia reached $391 million while its imports from the European country reached about $16 million. The exports include electronics and components, footwear and textiles and garments. — VNA/VNS Photo Tran Viet

HA NOI (VNS) — There is much room for improvement in bilateral co-operation between Viet Nam and Slovakia, especially in trade and investment, because of similarities in economic restructuring and political stability.

Doan Duy Khuong, the Viet Nam Chamber of Commerce and Industry vice chairman, delivered this message during the Viet Nam-Slovakia Business Forum held here yesterday.

Co-operation between the two governments and two business communities would help make co-operation opportunities more visible, Khuong said.

He added that Viet Nam could serve as the main gateway to ASEAN markets while Slovakia could serve as a bridge to markets of the European Union.

Slovakia was willing to accelerate its bilateral economic relationship with Viet Nam, said Miroslav Lajcak, the Slovakian deputy prime minister.

Lajcak specified machinery and engineering, environmental protection and health care as sectors where Slovakia wanted to co-operate with Viet Nam.

The deputy prime minister also suggested that businesses of the two nations take full advantage of the forum to establish new partnerships.

In spite of stable growth in previous years, two-way trade failed to match potentials and expectations of the two countries, Khuong said.

Trade between the two countries reached a modest figure of more than US$407 million in 2013, he added.

Figures showed that last year, Viet Nam's exports to Slovakia reached $391 million while its imports from the European country reached about $16 million. The exports include electronics and components, footwear and textiles and garments.

Also last year, Slovakia invested in five projects worth $235 million in Viet Nam, ranking 31st among 101 countries and territories investing in the country.

During the event, representatives of participating Slovakian companies expressed hopes of co-operating with domestic companies in a wide range of industries such as nuclear energy, electricity, information and communications technology and banking and finance. — VNS

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