Business news

27 Aug 2020

Ambassador: Belarus is looking forward to increasing trade with Vietnam

An archive photo

MINSK, 27 August (BelTA) - Belarus is looking forward to increasing trade with Vietnam, Belarusian Ambassador to Vietnam Vladimir Goshin said at an online business meeting “Belarus - Vietnam: New Horizons of Strategic Economic Partnership”, BelTA has learned.

“We have been working hard to increase and diversify trade in Vietnam. Vietnam is meeting us halfway. For example, it has extended the terms of duty-free import of vehicle sets and fully-assembled Belarusian vehicles. A three-year work on the certification of our dairy products has been completed. Now the process of certification of domestic meat and meat producers is underway. We are ready to set up more joint manufactures. Vietnamese business is welcome in Belarus. We have many interesting areas for business development,” Ambassador Vladimir Goshin said.

According to him, the free trade agreement between Vietnam and the EAEU gave a big boost to the development of trade and economic relations. Last year, the trade with Belarus exceeded $200 million. “This year, Vietnam imposed strict quarantine measures due to coronavirus. Almost all foreign commercial flights have been grounded. This has had a negative impact on business activity and the execution of a number of contracts, which affected our trade,” he noted.

The ambassador also said that there is tough competition on the Vietnamese market. The world’s major foreign companies have their offices here. Due to the proximity to China and the Republic of Korea the rules of business doing are even tougher for international players. “The free trade agreement between the European Union and Vietnam came into force on 1 August. This means competition will become even tougher,” he added.

As Vladimir Goshin noted, the economies of Vietnam and Belarus are complementary. “Given the existing potential of cooperation we can multiply our achievements and fulfill the tasks set by the presidents of our countries to bring the mutual trade to at least $500 million. This will require a coordinated work of all government agencies, Belarusian and Vietnamese exporters and importers. Our embassy is also ready to provide any assistance. The results of 2019 show that we have made progress. All opportunities are in place, and I call on everybody to engage in active work,” the diplomat emphasized.

According to the ambassador, Vietnam is one of the economic leaders both in Asia and worldwide. Last year the GDP rose by 7%. In H1 2020, despite the coronavirus-related difficulties, GDP went up by 2%. The growth is expected to reach 4% by the end of the year. “At a time when most economies have shrunk, Vietnam is showing a positive momentum, including in export and import. In H1 2020, foreign trade exceeded $240 billion,” he said.



Su	Mo	Tu	We	Th	Fr	Sa