Prime Minister Pham Minh Chinh and his Czech counterpart Petr Fiala, who is paying a visit to Vietnam from April 20-22, agreed during talks in Hanoi on April 21 to raise two-way trade to $1 billion over the next one to two years.
Bilateral trade turnover stood at $848 million in 2022.
The target could be reached through fully implementing the EU-Vietnam Free Trade Agreement and improving the effectiveness of the joint committee mechanism on economic cooperation.
The two sides will also encourage Czech enterprises to promote their investment in Vietnam, especially in fields where they possess strengths, such as automobile manufacturing, digital transformation, renewable energy, the environment, and infrastructure.
Prime Minister Chinh also asked the Czech Republic to help push other EU countries to soon ratify the EU-Vietnam Investment Protection Agreement.
Prime Minister Fiala, meanwhile, emphasized that Vietnam is an economic partner of potential and more and more Czech businesses are interested in investing or expanding their investment in the country.
Google translate