PM sets Vietnam-Romania trade target at over US$500 mln

Update: 09:24 | 24/10/2018

Prime Minister Nguyen Xuan Phuc received Romanian Minister for Business Environment, Commerce, and Entrepreneurship Stefan Radu Oprea in Hanoi on October 23.

Related newsPM, Vietnam-Romania, trade target, Nguyen Xuan Phuc, Romanian Minister, Business Environment, bilateral trade, economic ties, huge potential, big opportunities

Congratulating Vietnam on Party General Secretary Nguyen Phu Trong’s election as State President, Oprea informed his host about the outcomes of his working sessions with the Party Central Committee’s Economic Commission, the Ministry of Industry and Trade, and several relevant agencies on ways to step up the two countries’ relations.

PM, Vietnam-Romania, trade target, Nguyen Xuan Phuc, Romanian Minister, Business Environment, bilateral trade, economic ties, huge potential, big opportunities

At the event (Photo:Tran Hai).

He noted that he and the Ministry of Industry and Trade shared the view that bilateral trade and economic ties boast huge potential, agreeing to target trade revenue at US$ 500 million in the near future, instead of just US$ 200 million at present.

The Romanian delegation has worked with relevant Vietnamese agencies to enhance cooperation in agriculture, information technology, Industry 4.0 technology, tourism, and investment, as well as between small- and medium-sized enterprises of the two countries.

Minister Oprea said Romania pledges to strongly intensify links with Vietnam in fields matching its strength and Vietnam’s demand, such as developing expressway infrastructure, research infrastructure, and hospitals.

His country also wants to boost labor collaboration with the Southeast Asian nation and hopes to receive Vietnamese workers, he added.

He noted that Romania will hold the presidency of the European Union (EU) Council in the first half of 2019 – a good chance to promote Vietnam’s cooperation with the EU and Romania, including in the signing of the EU-Vietnam Free Trade Agreement (EVFTA).

At the meeting, PM Phuc applauded the two countries’ cooperation in recent years, stressing that Vietnam has signed and will sign 16 new-generation free trade agreements, which will open up big opportunities for links between Vietnamese and Romanian businesses.

Valuing Romania’s advantages in manufacturing industries, he said Vietnam has a population of about 100 million, and as such is a great potential market for Romanian firms in all fields, from seaports and tourism to oil and gas, and infrastructure.

The PM shared his guest’s view that bilateral trade remains modest, adding that he hopes the two sides will raise their trade to more than US$ 500 million.

He also asked the Vietnam-Romania Intergovernmental Committee to devise concrete measures to strengthen bilateral relations in all aspects, including removing barriers in terms of tax and investment procedures and organizing many business forums to promote partnership between their businesses.

Vietnam has a diverse range of agricultural products, PM Phuc said, calling on Romania to bolster ties to help such products enter their market.

The Government leader also voiced his delight at Romania’s holding of the EU Council presidency in the first half of next year. He expressed his hope that the EU will promote the signing of the EVFTA and the Investment Protection Agreement towards enhancing cooperation.


Vietnam proposes stronger multilateral trade at MSEAP 3
National Assembly Chairwoman Nguyen Thi Kim Ngan has emphasized the responsibilities of parliaments of Eurasian countries in urging regional governments to set up economic links and promote multilateral trade, contributing to growth in each country and region, said Nguyen Van Giau, Chairman of the NA’s Committee for External Relations. 

Source: NDO/VNA

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