Vietnam and the Czech Republic have agreed to prioritise cooperation in financial-banking, science-technology, trade, agriculture, biology, transport, infrastructure construction and labour.

Vietnam and the Czech Republic have agreed to prioritise cooperation in financial-banking, science-technology, trade, agriculture and biology, transport, infrastructure construction and labour.

The agreement was reached at the second session of the Vietnam-Czech Republic Inter-governmental Commission on Trade and Scientific Cooperation in Hanoi Tuesday.

Czech Deputy Minister of Industry and Trade Milan Horvoka, who is leading the Czech delegation to the session, said that the two sides agreed to add the financial and tourism fields to the list of projects.

Vietnamese Deputy Minister of Industry and Trade Le Danh Vinh stressed that the two sides need to promote information sharing through different channels, encourage businesses to open representative offices or branches and set up companies in each country.

The Ministry of Industry and Trade always facilitates Czech businesses to increase cooperation in industry and trade in accordance with Vietnam’s laws and policies, he added.

During the session, the two sides informed each other of their respective country’s economic development and reviewed the implementation of agreements signed at the previous session.

Two-way trade between the two countries saw a steady growth in recent year. The figure rose from US$100 million in 2005 to $294 million in 2008 and reached $300 million one year later.

Considering Vietnam as a traditional market with many advantages, Czech enterprises have so far invested about $35 million in production of glass, crystal, electrical appliances and construction materials.

In 2010, Vietnam and the Czech Republic are celebrating the 60th anniversary of diplomatic ties.

Source: VNA