Vietnam, Romania promotes trade relations

Minister of Industry and Trade Tran Tuan Anh talks on the phone. (Photo: VNA)

On May 15, Minister of Industry and Trade Tran Tuan Anh talked on the phone with Romanian Minister of Economy, Energy and the Business Environment Virgil-Daniel Popescu.

Minister Anh shared the difficulties and losses suffered by Romania during the COVID-19 pandemic, and expressed his hope that Romania and other nations in the EU will soon contain the spread of the disease for the early resumption of economic, trade and investment activities.

The Romanian minister congratulated Vietnam for its success in coping with the COVID-19 pandemic and thanked the country for facilitating the supply and transport of medical supplies as well as for presenting face masks to Romania.

The ministers noted that recent bilateral economic, trade and investment cooperation has produced positive outcomes with good growth, which, however, remains modest compared to both sides’ potential and aspiration.

With the signing of the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA) during Romania’s tenure as presidency of the Council of the EU, Romania and Vietnam continue to lead in promoting the implementation of the deals, thus bringing practical benefits to their business communities.

The ministers expressed their hope that after the pandemic, the two sides will make further efforts with specific plans of actions to promote bilateral cooperation, especially in fields of their strength. They said the EVFTA, once taking effect, is certain to open up big opportunities to develop trade and investment ties between Vietnam and the EU in general and Romania in particular.

Mentioning bilateral collaboration in coping with the COVID-19, Minister Virgil-Daniel Popescu asked Vietnam to continue supplying medical masks to Romania.

Minister Anh pledged to work with the Health Ministries and relevant enterprises to maintain a stable supply of masks and medical supplies to Romania.

Statistics of the General Department of Vietnam Customs showed two-way trade between Vietnam and Romania totalled US$261.3 million in 2019, up 19.7% from 2018, of which US$193.8 million came from Vietnam’s exports, up 32%.

Two-way trade in the first quarter of this year increased 9.7% year-on-year to over US$73 million.