In the first ever State-level visit, the Vietnamese president will ask the Austrian government to provide favourable conditions for the 4,000 Vietnamese people living in the European country.

President Triet is scheduled to hold talks with President Heinz Fisher and meet with Parliament Speaker Barbara Prammer, Prime Minister Alfred Gusenbauer, local scholars and overseas Vietnamese.

He is expected to witness the signing of bilateral accords on double taxation avoidance, diploma mutual recognition and health technology cooperation.

About 60 Vietnamese businesspeople will accompany President Triet to explore opportunities for investment and partnership. They will take part in a business forum slated for Vienna on June 3.

Austria was first visited by former Prime Minister Phan Van Khai in April 1998, by former Vice Chairman of the National Assembly Mai Thuc Lan in May 2002 and later by former State Vice President Truong My Hoa in September 2005.

In March 1995, former President Thomas Klestil became the first Austrian leader to visit Vietnam, followed by Parliament Speaker Heinz Fisher who came in April 1997.

Economic ties between the two countries remain modest, with two-way trade value standing at US$140 million in 2006 and rising to about US$175 million in 2007.

Vietnam’s favoured imports from Austria include wooden furniture, plastic materials, machinery and medicines. Vietnam exports mainly footwear, garment and apparels, electronics components and bags to the European country.

By March this year, Austria had invested in 10 projects in Vietnam, worth a total of US$12.4 million, ranking 10^th among the largest foreign investors from European countries.

So far, Austria has provided financial assistance for Vietnam in the fields of railways, health care and education and training. At present, it supplies more than US$1.635 million in non-refundable aid to help Vietnam restore 1,500 tractors and develop post-harvest technologies in the Mekong delta.