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Dec 26, 2016 / 14:01

Ambassador: Boosting Vietnam - Czech economic cooperation

By Anh Kiet

At the recent working session with three Vice Governors of Karlovy Vary to discuss measures to promote cooperation in trade, investment and tourism between localities of the two countries, Vietnamese Ambassador Truong Manh Son stressed to boost Vietnam - Czech economic cooperation.

 
At the meeting
At the meeting
The Ambassador said the embassy is willing to act as a bridge to connect Karlovy Vary and Vietnamese localities. Vice Governor Martin Hurajcik highlighted the traditional friendship between Czech and Vietnam, which needs consolidation through win-win economic affiliations, including those at local level. 

At the meeting, Karlovy Vary province of the Republic of Czech wants to seek Vietnamese partners for cooperation in investment and tourism, the province’s Vice Governor Petr Kubis said. Karlovy Vary, over 100 km from Prague, has a population of nearly 300,000 people. The province’s strengths include tourism, mining, machinery and chemicals. More than 5,000 Vietnamese are living in the province. A Memorandum of Understanding on the agreement reached at the working session will be officially signed by the Vietnamese Ambassador and the Governor of Karlovy Vary early next year.


 
At the same time, Vietnam has signed and will sign 16 free trade agreements (FTA), the Government said in a report sent to the National Assembly Standing Committee this week. The Government report on acceleration of international economic integration signed by Minister of Industry and Trade Tran Tuan Anh indicates that Vietnam has inked 10 FTAs, concluded negotiations over two FTAs, and is in talks over four FTAs.

In particular, the nation has joined six regional FTAs as an ASEAN member, including the ASEAN Free Trade Area (AFTA) and the five FTAs between ASEAN and China, Japan, South Korea, India, Australia and New Zealand, as well as four bilateral FTAs with Chile, Japan, South Korea and the Eurasia Economic Union (EAEU).

The report has revealed five major shortcomings in Vietnam’s international economic integration. The nation has concluded negotiations over an FTA with the European Union (EU) and the Trans-Pacific Partnership (TPP) trade pact.

The remaining FTAs that are being negotiated include the Regional Comprehensive Economic Partnership (RCEP), the Hong Kong-ASEAN FTA, the FTA with Israel, and the FTA with the European Free Trade Association (EFTA).

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