The Ukrainian Government has mapped out a national recovery plan for the next decade, which will be an opportunity to boost trade and investment cooperation between businesses in Vietnam and Ukraine, according to Mr. Hoang Dinh Chai, Trade Counselor of Vietnam in Ukraine.
Ukraine is promoting free trade agreements with many countries and has signed agreements to implement practical measures to recover production and trade, Mr. Chai said while addressing a recent workshop on trade exchange between businesses in the two countries.
Businesses in both have actively boosted trade exchanges after a four-month postponement. A number of businesses and associations from Ukraine have also visited Vietnam to carry out trade promotion activities and seek sources of supply.
Ukraine is interested in rice, food products, and garments and textiles from Vietnam, which are among the country’s key export products, according to Mr. Chai.
Regarding investment, businesses in Ukraine face a shortage of capital for maintenance and development, so Vietnamese enterprises can invest in, link with, or buy factories in Ukraine, he said. This is a good opportunity for Vietnamese businesses to invest in, produce for, and export to the European market.
Ukraine has 27 projects in Vietnam with total registered capital of over $30 million, ranking it 69th out of 143 countries and territories investing in the country.
Two-way trade has declined recently due to Covid-19 and conflict in Ukraine. Bilateral trade in the first quarter of 2023 reached just $12.9 million, a year-on-year fall of 914 per cent.
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