Trade-economics – key pillar in Vietnam-Sweden ties

Swedish Secretary of Foreign Affairs Frank Belfrage reiterated on March 18 that trade-economics has become an important pillar in Vietnam-Sweden relations over the past 45 years.

While meeting local media in Hanoi, the official noted that the two countries have enjoyed an average annual growth of 28 percent in two-way trade since 2011 to over 1 billion USD in 2013.

He said the success of Swedish enterprises in Vietnam shows the attraction of the Vietnamese market to firms that wish to expand their business abroad.

Meanwhile, about 30,000 Swedish tourists visit Vietnam every year to enjoy its beautiful natural landscapes, he added.

Regarding the progress of the Vietnam-EU free trade agreement, Belfrage said the deal is expected to be reached this autumn after being approved by all the 28 EU members.

Apart from concluding the planned negotiations, it is also important to ensure a comprehensive agreement benefiting all involved parties, he said.

The EU is the largest market of Vietnam and this will be further consolidated once the FTA is signed, said Belfrage.

He said he hopes the deal will create more opportunities for Swedish and other European investors who could introduce new technologies to the 90- million-strong market of Vietnam.

Source: VNA

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