The Eurasian region is considered a potential export market once Vietnamese businesses take advantage of opportunities from free trade agreements, said Ta Hoang Linh, Director of the European-American Market Department of the Ministry of Industry and Trade. Linh was speaking at a trade forum with partners in Asia and Europe in Hanoi on Friday to provide the Vietnamese business community up-to-date information on the market situation, foreign trade policies, and trade and investment opportunities in Eurasia.
The Eurasian region consists of 28 countries, stretching from Eastern Europe to Central Asia, covering about 23.5 million square kilometers with a population of 410 million people. It is a traditional and potential market for Vietnamese businesses.
Linh said the Ministry will continue to work with the business community to deal with obstacles and difficulties in trade activities and outline an overall solution to promote trade and investment between Vietnam and European and American markets and the Asian and European markets in particular.
He affirmed that Vietnamese enterprises still have a lot of opportunities to promote import and export activities and implement investment projects with the region. Vietnam and other countries in the region have formed a firm cooperation framework institution as the foundation for the bilateral cooperation.
“Vietnam’s exported products to the region are essential items with high quality and competitive prices. So this is a favorable time to further increase market penetration, seek opportunities in niche markets, and expand long-term business relationships with partners in Eurasia,” said Linh.