Vietnam, Latvia connect to promote trade

Wednesday, 25/05/2022 15:54
The Vietnam - Latvia Business Forum is expected to connect and promote trade between the two countries moving forward.

Photo for illustration 

The Vietnam Trade Office in Sweden, concurrently of the Nordic region, in coordination with the Ministry of Planning and Investment’s Department of Investment and Development, Ministry of Economy of Latvia, Ministry of Industry and Trade’s Department of Trade Promotion, and the Embassy of Vietnam in Sweden, concurrently with Latvia will organize the Vietnam - Latvia Business Forum on May 31.

The event is among activities held to celebrate the 30th anniversary of diplomatic ties between Vietnam and Latvia.

According to the Vietnam Trade Office in Sweden, concurrently of the Nordic region, Latvia is one of the three nations in the Baltic region.

Latvia holds a strategic geographical position for business activities between the EU region and emerging markets located to the east of the Baltic country. The European nation is geographically located as a gateway between the EU and Asia, especially Russia.

In spite of being a small country, reforms have seen the Latvian economy continuously grow over the past decade, with the exception of 2020 due to the consequences of the COVID-19 pandemic, whilst it holds great economic potential.

Currently, Vietnamese export staples include seafood, cashew nuts, coffee, pepper, plastic products, bamboo and rattan products, wood and wood products, garments and textiles, footwear and other products.

Vietnam imports items from Latvia such as rubber, timber and wood products, cotton, fabrics of all kinds, raw materials for textiles and garments, leather, machinery, equipment and pharmaceuticals./.