HCM CITY –Việt Nam’s free trade agreement with the EU would go a long way towards tapping the trade potential that exists with Poland, experts have said at a conference last week in HCM City.
Phạm Thiết Hòa, director of the Investment and Trade Promotion Centre of HCM City (ITPC), said there is much room for the two countries to expand trade and investment ties.
Their bilateral trade last year was worth nearly US$1.6 billion, up 60 per cent from 2017, of which Vietnam’s exports were close to $1.33 billion, a rise of 72 per cent, he said.
Việt Nam mainly exported electronics and equipment, footwear, textiles and agricultural goods such as coffee, pepper, coconut, and cashew, while Poland exported animal products, pharmaceuticals and cosmetics.
According to Piotr Harasimowiczm, chief representative officer of the Polish Investment and Trade Agency in HCM City (PAIH), Poland imports a lot of rice, fruits and oil products from other European countries but very little from Việt Nam, which is capable of supplying them.
For instance, a lot of the rice Poland imports every year from Europe is actually imported from Việt Nam by those countries, packaged in smaller bags and sold to Poland.
Poland wants to import directly from Việt Nam products like rice, farm produce, cooking oil, and organic and health products.
His country is strong in animal-derived products, cattle feed and pharmaceuticals, for which Viet Nam has great demand, he pointed out.
He said the EU-Việt Nam Free Trade Agreement would help boost trade between Việt Nam and Poland.
Hòa said the ITPC and PAIH had signed a memorandum of understanding for co-operation in improving the efficiency of trade and investment promotion.
The collaboration would enable Vietnamese and Polish companies get information about the market and trade and investment incentives in the other country, he said.
Harasimowicz said bilateral trade and investment ties had made progress but are yet to fulfill the potential.
Việt Nam was focusing on upgrading agricultural technologies and Poland could help in this regard, he said.
The two should step up co-operation in the dairy and pharmaceutical sectors, he said, adding Polish investors also want to develop digital applications in trade, education, health, and accommodation services in Viêt Nam. – VNS