Major opportunity for Vietnamese businesses to enter Romanian market

The ways in which Vietnam can fully exploit the advantages offered by the EVFTA to bolster exports and investment into the Eastern European nation are the focus of an exclusive Voice of Vietnam (VOV) interview with Vietnamese ambassador to Romania Tran Thanh Cong.Reporter: During the Romanian President’s visit to Vietnam in 2016, both sides placed a large emphasis on economic cooperation.  What is your assessment of the advantages and disadvantages of such potential cooperation? Ambassador Tran Thanh Cong: Firstly, there are advantages in some fields of Romania’s particular strengths and Vietnam’s priority includes agriculture, oil and gas, and electronic devices which are the forefront of our bilateral cooperation. Several Romanian businesses have also signed cooperation documents in fields such as oil and gas and information and technology (IT). Furthermore, we have the ability to bring cooperation prospects to new heights. For example, in the arena of labour, while both nations are currently in the process of negotiating a labour cooperation agreement, number of Vietnamese guest workers sent to work in the Southeast European nation through unofficial channels has amounted to 500-600, primarily in construction, mechanics, shipbuilding, hotelier, and restaurants.  In addition, with its strength in drug materials, Vietnam is able to cooperate with Romania in in the realm of pharmaceuticals. However, there remain several hurdles to be overcome, such as the rather long geographical distance and a lack of market and trade promotion information, and face-to-face talks. Reporter: The EVFTA is set to come into force this year. How does… [Read full story]

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