Despite Eastern European countries being an important export market for Vietnamese goods, the total trade revenue between both sides fell short of the potential, with bilateral trade reaching $10.1 billion in 2018—2.65 per cent of the country’s total export revenue, according to Vietnam’s deputy minister of industry and trade Hoang Quoc Vuong.
Items like textiles and footwear, seafood, fresh and processed fruit and vegetables, electronics and electronic components, will have more opportunities to be exported to this market, he noted.Despite Eastern European countries being an important export market for Vietnamese goods, the total trade revenue between both sides fell short of the potential, with bilateral trade reaching $10.1 billion in 2018—2.65 per cent of the country's total export revenue, according to Vietnam's deputy minister of industry and trade Hoang Quoc Vuong.#
Vuong was speaking at the Vietnam-Eastern Europe Trade Forum with the theme ‘Promoting Vietnam’s agricultural, textile and footwear exports to Eastern European countries in the new situation’ organised by his ministry in Ho Chi Minh City last week.
Institutions and legal frameworks for developing cooperation between both sides include 14 intergovernmental committees, a mechanism for economic cooperation consultation between Vietnam and Poland and a free trade agreement between Vietnam and the Eurasian Economic Union, a Vietnamese newspaper report quoted the deputy minister as saying. (DS)
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