The Czech Republic is currently a large trading partner of Vietnam in Eastern Europe and import-export revenue between the two countries has always maintained growth despite economic difficulties in the EU over the past few years.
Apparel is among Vietnam’s exports to the Czech Republic (illustrative image)
According to Director of the European-American Market Department under the Ministry of Industry and Trade, Ta Hoang Linh, the two-way trade revenue between the two countries expanded at 10% over recent years. Total import-export revenue between Vietnam and Czech Republic reached US$298.01 million in 2018, up nearly 16% compared to 2017.
In the first quarter of 2019, total import-export revenue between Vietnam and Czech was reported at US$64.643 million, down 12%. Of which, Vietnam’s exports to Czech reached US$37.766 million, up 2.4%, while Czech’s exports to Vietnam were US$26.876 million, down 27.6%.
Deputy Director of the European-American Market Department, Nguyen Khanh Ngoc, said that Vietnam’s exports to the Czech Republic include footwear, apparel, seafood, consumer goods, computers and parts, mobile phones, and others.
At the sixth meeting of the Vietnam-Czech Republic Intergovernmental Committee on economic cooperation in March 2018 in Hanoi, the two sides expressed their wishes to continue to strengthen diplomatic and economic cooperation for the mutual benefits of both countries.
In particular, the Czech Republic put Vietnam on the list of 12 key markets given priorities in foreign trade under the Czech international trade strategy in the 2012-2020 period. Vietnam is the only representative from ASEAN named on the list.
Ngoc noted that to promote exports to the Czech Republic, Vietnamese enterprises should participate in supply chains of large retail systems in the host country in addition to boosting direct sales to importers and distributers.