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A wooden manufacturing facility in Vietnam. Wooden merchandise are amongst Vietnam’s most important exports to Latvia. (Photograph: VNA)Hanoi (VNA) – The Vietnam
Commerce Promotion Company (Vietrade) is holding a web based business-to-business
convention to hunt methods for bolstering commerce with Latvia.
In 2021, bilateral commerce elevated
2 % 12 months on 12 months to round 240.7 million USD, with Vietnam exporting
219.24 million USD and importing 21.46 million USD value of products, respectively
up 4.4 % and down 17.9 %.
The commerce turnover stood at
66.7 million USD within the first quarter of 2022, statistics present.
Edmunds Valantis, State
Secretary on the Latvian Ministry of Economics, highlighted the nice
strides in bilateral relations over the previous years, particularly within the commerce of
agro-fishery merchandise, wooden gadgets, attire, and footwear, noting that Vietnam’s
participation in free commerce agreements has positively affected their commerce
ties.
Latvia is the most important Baltic financial
accomplice of Vietnam, which in flip can also be the most important ASEAN accomplice of the
European nation, Phan Dang Duong, Vietnamese Ambassador to Sweden and Latvia,
instructed the occasion being held on Might 31 and June 1.
Vietnam needs to additional
improve partnerships with Latvia in financial system, commerce, funding, training -
coaching, labour, and tourism, he stated, stressing that with frequent efforts, new
alternatives will likely be opened up for his or her enterprises to tighten hyperlinks in all
the fields they’re robust at after a two-year hiatus attributable to the COVID-19
pandemic.
Vietrade Director Vu Ba Phu
famous the Ministry of Business and Commerce hopes to welcome a Latvian enterprise
delegation to come back to hunt cooperation possibilities, particularly in digital
transformation, synthetic intelligence, info know-how, and the wooden
business.
Latvia holds a strategic
geographical location for enterprise actions between the EU and rising
markets located to its east. It is sort of a gateway linking the US and the EU
with Asia and, particularly, Russia.
Vietnam and Latvia boast
sound cooperation over the three many years of their diplomatic ties, however
bilateral commerce stays modest, Phu identified.
He added Vietnam’s most important
exports to this nation embody seafood, cashew nut, espresso, peppercorn,
plastic merchandise, bamboo, rattan and wooden gadgets, attire, and footwear. In the meantime,
Latvia has offered rubber, wooden merchandise, textile – garment supplies, equipment,
and medication to the Southeast Asian nation./.
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