Memorandum of Understanding between CCIR and the Trade Promotion Agency in Vietnam
Publicat pe 04/10/2019
Bucharest, October 4th, 2019: The Chamber of Commerce and Industry of Romania (CCIR), in partnership with the Vietnam Trade Promotion Agency (VIETRADE), the Ministry of Industry and Trade of the Socialist Republic of Vietnam and the Ministry for the Business, Trade and Entrepreneurship of Romania, in the margins of the 16th session of the Romania-Vietnam Joint Economic Cooperation Commission, organized, on October 4th, the Romania-Vietnam Business Forum.
The Romania-Vietnam Forum thus created the perfect opportunity for the Romanian business environment to engage in dialogue with important Vietnamese companies operating in different economic sectors, such as the food industry (fish and seafood, coffee, teas, candied fruits) ), agriculture, plastics, mechanical equipment, handling and lifting equipment, furniture and decorations, renewable energy, banking, human resources.
During the event, a Memorandum of Understanding was signed between the Chamber of Commerce and Industry of Romania and the Trade Promotion Agency in Vietnam (VIETRADE), in order to facilitate the access of Romanian investors to the Vietnamese market, as well as to the entrepreneurs from R.S. Vietnam on the Romania market.
“Certainly, at least for the last three years, the economic relations between Romania and Vietnam have been on a strong upward trend. Let us not forget that the EU-Vietnam Free Trade Agreement was signed under the presidency of Romania at the Council of the European Union. The development of these relationships has been a permanent concern of the Chamber of Commerce and Industry of Romania, the most representative institution for promoting the business environment, especially concerned with the presence of the Romanian business and in markets other than the European one. We want Romania to become a hub for Vietnamese investors to facilitate their access to the European Union market and, at the same time, Vietnam to be a hub for Romanian entrepreneurs to the ASEAN market”, said E.S. Ambassador Lazăr Comănescu, External Affairs Advisor to the President of CCIR.
“The commercial relationship should be a measure of the traditional friendship relationship that exists between Romania and Vietnam and we are glad that next year, at Vietnam Expo 2020, Romania will be invited to the honor. It is necessary to look at the bilateral relations from the perspective of the markets, and the Ministry for the Environment of Business, Trade and Entrepreneurship encourages the presence of the Romanian companies by financing the economic missions, fairs, and exhibitions organized around the world. Now is the time for companies from both countries to take advantage of the framework created by the agreements signed between the EU and R.S. Vietnam, during the presidency of Romania at the EU council, respectively the Free Trade Agreement and the Agreement on Investment Protection”, said Mr. Ștefan Radu Oprea, Minister for Business, Trade and Entrepreneurship.
“The Socialist Republic of Vietnam is a member of the Association of Southeast Asian Nations, a very large market with huge development potential. The Romanian companies that will choose to invest in Vietnam will also have access to this market, which creates all the premises for sustainable business development. In order to facilitate the access of Romanian investors in Vietnam, but also of the Vietnamese on the Romanian market, we have signed today a Memorandum of Understanding between the Chamber of Commerce and Industry of Romania and the Trade Promotion Agency in Vietnam (VIETRADE)”, said Mr. Tran Tuan Anh, Vietnam’s Minister of Industry and Trade.
Background
The value of the bilateral trade between Romania and Vietnam stood at 181.76 million Euros at the end of last year, and at the end of July 2019, it was 128.89, according to data provided by ONRC. In Romania, a number of 233 Vietnamese companies operate, with a total subscribed share capital of 2.04 million Euros.
Vietnam is one of the main Asian economic partners of Romania, occupying, at the same time, one of the first places among the trading partners in ASEAN.