Business News 22/01/2025, 13:21

Vietnam and Poland strive to achieve 5 billion USD in trade turnover

Prime Minister Pham Minh Chinh has proposed enhancing economic cooperation with Poland to achieve 5 billion USD in trade turnover between the two nations shortly.

Vietnam and Poland strive to achieve 5 billion USD in trade turnover

This proposal was among six key measures highlighted by Prime Minister Pham Minh Chinh during talks with Polish Prime Minister Donald Tusk after the official welcoming ceremony in Warsaw on January 16.

During the meeting, Prime Minister Donald Tusk emphasized that Vietnam is Poland's long-standing traditional friend and key partner in Southeast Asia.

Prime Minister Pham Minh Chinh reaffirmed Vietnam’s commitment to strengthening its traditional friendship with Poland, a leading partner in Central and Eastern Europe. He expressed a desire to enhance political trust and elevate the bilateral relationship to a strategic partnership while making economic cooperation a cornerstone of their ties. "Vietnam and Poland strive to achieve 5 billion USD in trade turnover soon," he stated.

The proposal came as trade turnover between the two countries surpassed 2.5 billion USD annually from 2021 to 2023, and by the end of November 2024, bilateral trade had reached 3.15 billion USD.

Poland ranks 21st among 149 countries and territories investing in Vietnam, with 32 active projects totaling registered capital of 473 million USD. Meanwhile, Vietnam has four investment projects in Poland, with a total capital of 1.84 million USD.

Vietnam’s key exports to Poland include computers, electronic products and components, machinery, equipment, textiles, and footwear. Conversely, Poland exports machinery, pharmaceuticals, milk, and dairy products to Vietnam.

Additionally, Prime Minister Pham Minh Chinh proposed strengthening cooperation in security and defense, promoting education and training, especially in human resources for digital transformation, green transformation, and chip production.  

He also urged the Polish government to facilitate deeper integration of the Vietnamese community in Poland into local society and to recognize this community as an official ethnic minority in the country. Currently, around 25,000 Vietnamese reside in Poland.

Responding to these proposals, Prime Minister Donald Tusk assured that Poland would soon ratify the EU-Vietnam Investment Protection Agreement (EVIPA) and support the European Commission in lifting the "yellow card" on Vietnam's seafood exports to the EU market.

According to Tusk, Vietnam is one of Poland's most promising markets in the Asia-Pacific region. Many Polish businesses are keen to expand their investment and business operations in Vietnam.

Furthermore, Polish leaders agreed to consider upgrading bilateral relations to a strategic partnership, building on the solid foundation of political trust and the achievements of 75 years of diplomatic relations.

The two leaders also agreed to expand cooperation into potential areas such as renewable energy, digital transformation, information technology, and effective implementation of defense-security, trade-investment, transportation, railway connectivity, and pharmaceuticals partnerships. Both countries pledged to support each other in serving as gateways for their goods to enter the ASEAN and EU markets.

Prime Minister Pham Minh Chinh paid an official visit to Poland from January 16 to 18 at the invitation of Prime Minister Donald Tusk. This marked the first official visit by a Vietnamese prime minister to Poland in 15 years.

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