Huge potential for Vietnam-Czech Republic economic cooperation: official

Vietnam and the Czech Republic have huge potential to boost economic cooperation and the two economies can complement each other, Katerina Sequensova, Director General of Section of Non-European Countries, Economic and Development Cooperation at the Ministry of Foreign Affairs of the Czech Republic, said at a meeting in Prague on July 24 with Vietnamese Deputy Minister of Foreign Affairs Le Thi Thu Hang.

Deputy Minister of Foreign Affairs Le Thi Thu Hang ( third, from right) and Katerina Sequensova, Director General of Section of Non-European Countries, Economic and Development Cooperation at the Ministry of Foreign Affairs (third, from left)

Sequensova emphasised that the Czech Republic treasures its relations with Vietnam and wishes to continue to deepen the relationship and soon elevate it to a strategic partnership.

For her part, the Vietnamese diplomat affirmed that the bilateral relationship is growing fruitfully.

The two sides witnessed positive development steps in their political and diplomatic relations with the exchanges of delegations being maintained at all levels.

Vietnam and the Czech Republic have also closely cooperated with each other at multilateral forums and affirmed that they would continue to support each other in their candidacies for United Nations agencies.

Regarding economic and investment ties, Hang noted that Vietnam is currently the Czech Republic's largest trading partner in the Association of Southeast Asian Nations (ASEAN) with two-way trade reaching an impressive growth rate of 20-30%annually.

Hang held that investment cooperation between the two countries is very promising as the EU – Vietnam Investment Protection Agreement (EVIPA) will be ratified and implemented in the coming time.

She affirmed that Vietnam will always create favourable conditions for Czech businesses to invest in Vietnam, including the SKODA Auto with its investment in the automobile industry – a priority area of Vietnam.

Hang also highly appreciated the cooperation with the Czech Republic in education and labour. She proposed promoting the implementation of the Letter of Intent on educational cooperation that the two countries signed on the occasion of the Czech Prime Minister's visit to Vietnam in April 2023.

The official suggested the Czech Government continue granting scholarships to Vietnamese students and creating favourable conditions for student exchange progarmmes.

Based on the Czech Republic’s high demand for skilled workers, especially in healthcare sector, Hang also proposed the European country to consider receiving Vietnamese nurses.

On this occasion, the Deputy Minister also thanked the Czech Government for creating favourable conditions for the Vietnamese community to live, work and study in the Czech Republic.

The Vietnamese community is the third largest foreign community in the Czech Republic, one of the communities recognised as an ethnic minority group in the country, and actively contributes to the construction and development process of the host country and the Vietnam – Czech Republic relations, according to the official.

Sequensova said that she was delighted to see the successes of the Vietnamese community in the country.

Affirming that the two countries’ economic cooperation potential remains huge and the two economies can complement each other, Sequensova agreed that the two sides should continue promoting multifaceted cooperation, especially bilateral trade.

The Czech Republic would continue to promote people-to-people exchanges, Sequensova said, adding that she will consider and discuss with authorities on the granting of scholarships and student exchanges with Vietnam, as well as cooperation in other areas.

The official said she wishes to welcome a high-ranking Vietnam delegation to visit the Czech Republic on the occasion of the 75th founding anniversary of the bilateral diplomatic relations.

On this occasion, Sequensova also extended the Czech Government's deep condolences to the Vietnamese Government over the passing of General Secretary of the Communist Party of Vietnam Central Committee Nguyen Phu Trong./.

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