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Romania supports the signing of the EU-Vietnam Free Trade Agreement

PRESS RELEASE

 

Business environments in the EU and Vietnam will have new advantages by eliminating a large number of customs duties subsequent to the signing of the trade agreement between the two international system actors. Together with the organization of a Romanian-Vietnamese business forum in Bucharest, these were the main topics addressed during today’s meeting of Minister Ştefan-Radu Oprea with HE Dang Tran Phong, the Ambassador of the Socialist Republic of Vietnam to Romania.

The economic forum will be held in the margins of Prime Minister Nguyen Xuan Phuc visit to Bucharest, following Mrs. Viorica Dăncilă, Romanian Prime Minister’s invitation to a forum to be attended by important Vietnamese companies which will be on an economic mission in Romania during April 14-16 2019.

The two officials have appreciated the actual opportunities for cooperation in areas of common interest such as energy, oil and gas, automotive and IT. Entrepreneurs accompanying the Vietnamese Prime Minister may hold B2B meetings at the Romanian-Vietnamese business forum, to be held in April with the support of the Chambers of Commerce and Industry of the two countries.

At the same meeting, Minister Oprea assured the Vietnamese diplomat of Romania’s support for the signing of the Free Trade Agreement. The topic is a priority on the agenda of the Romanian Presidency of the EU Council and was also on the agenda of the informal meeting the trade ministers held in Bucharest this February. In this context, the Romanian official invited the Vietnamese partners to join the message Romania sent to the European business community so as to promote a rule-based international trade framework.

“It is important to convey a common international message and create new business opportunities for companies in both countries, especially for SMEs”, Minister Oprea said.

Vietnam is one of Romania’s important and traditional partners in Southeast Asia. As at December 31, 2018, the value of bilateral trade was USD 214.9 million, down 5.32% over the same period in 2017. Exports amounted to USD 45.04 million and imports amounted to USD 169.89 million. A significant development was recorded in Romania’s trade with Vietnam during the last 10 years (+ 108.7% versus 31.12.2009). Exports increased by 164% and imports doubled.

 

Press office – Ministry for Business Environment, Commerce and Entrepreneurship 

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