Czech President’s visit aims to tighten bilateral ties

Since the two countries established diplomatic ties on February 2, 1950, cooperation has been nurtured by generations of leaders and people.

Vietnam attaches importance to relations with its traditional friends in Central and Eastern Europe, with the Czech Republic a priority, while the European nation also pays attention to fostering relations with Vietnam.

Over the years, economic, trade and investment ties between Vietnam and the Czech Republic have grown. Two-way trade reached US$249 million in 2016.

In its 2012-2020 national export strategy, the Czech Republic put Vietnam – the only ASEAN nation – on a list of 12 priority markets. Vietnam ships coffee, pepper, fruits, peanut, tea, rice, rubber and seafood to the Czech Republic, while importing electronic products, machines, chemicals, milk and dairy products and pharmaceutical products from the European country.

The Czech Republic has 35 investment projects in Vietnam, with total registered capital of US$91.3 million, focusing on real estate, electric equipment and construction materials.

It was the first East European nation to consistently provide official development assistance for Vietnam. Since 1999, it has presented scholarships to Vietnamese students and postgraduates.

Currently, there are more than 60,000 Vietnamese people living in the Czech Republic. In 2013, the overseas Vietnamese community was recognised as an ethnic minority in the country.

The two countries have signed several cooperation agreements, including an agreement on double taxation avoidance in 2004, another on economic cooperation in 2006, and another on cooperation in culture, education, science, youth and sports in 2016.

They are negotiating a new education agreement.

The State visit to Vietnam by President Milos Zeman aims to affirm the Czech Republic’s hope to tighten friendship and cooperation with Vienam.

The visit will allow the two countries to seek measures to boost relations in all fields, especially economics, trade, investment, education and training, and labour export and discuss regional and international issues of mutual concern.