PM sets Vietnam-Romania trade target at over 500 mln USD

Update: 14:43 | 24/10/2018
Prime Minister Nguyen Xuan Phuc received Romanian Minister for Business Environment, Commerce, and Entrepreneurship Stefan Radu Oprea in Ha Noi on October 23.
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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 sets vietnam romania trade target at over 500 mln usd
Prime Minister Nguyen Xuan Phuc receives Romanian Minister for Business Environment, Commerce, and Entrepreneurship Stefan Radu Oprea on October 23.

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 500 million USD in the near future, instead of just 200 million USD 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 labour 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 500 million USD.

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 organising 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.

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(Source: VNA)