Czech Republic – Vietnamese Business Roundtable Seeks to Get the Most Out of EVFTA | Business

The “Czech-Vietnamese Business Roundtable” is organized by the Vietnamese Embassy and the Czech Management Association (CMA) in Prague on November 10. (Photo: VNA)

Prague (VNA) – The “Czech Republic – Vietnam Business Roundtable” was organized by the Embassy of Vietnam and the Czech Management Association (CMA) in Prague on November 10 to introduce potential for trade and investment cooperation between the two countries and exchange information on their market and business climate.

The event took place against a backdrop where the two countries are looking for ways to make the most of the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVPIA) is in the process of national ratification.

The event also aimed to explore the challenges and ways to address them in order to boost bilateral trade and investment, and to share the Czech Republic’s experience in responding to COVID-19 to revive the economy.

It brought together policy makers and business leaders from both countries.

At the event, speakers focused their presentations on analyzing the impacts of COVID-19 on the global economy, including Vietnam and the Czech Republic, and how EVFTA and EVIPA deliver great opportunities for market access and trade in goods between Vietnam and the Czech Republic, a member of the EU.

The Czech Republic served as a gateway for Vietnamese products to enter the EU market. In addition, thanks to EVFTA, Vietnam-Czech Republic trade has grown steadily despite the impacts of COVID-19, one of which has been disruptions in the global supply chain. Two-way trade reached $ 1.5 billion last year, up 22% from the previous year. It increased 28% year-on-year in the first half of 2021 to reach $ 936 million.

A number of Czech business leaders spoke highly of the potential for trade and investment between the two countries, saying they were keen to explore business opportunities with Vietnam, especially in areas including the South Asian nation. -Is holds advantages, including agriculture and fishery products, clothing and textiles and footwear.

The Czech side also expressed interest in strengthening the bilateral partnership in civil aviation, suggesting that Vietnam and the Czech Republic should work together to train Vietnamese pilots and open more direct flights between the two countries./.

VNA


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