The agreement was reached at the second session of the Vietnam-Czech Republic Inter-governmental Commission on Trade and Scientific Cooperation in Hanoi on September 28.

Czech Deputy Minister of Industry and Trade Milan Horvoka, who is leading the Czech delegation to the session, said that the two sides agreed to add the financial and tourism fields to the list of projects.

Vietnamese Deputy Minister of Industry and Trade Le Danh Vinh stressed both sides need to promote information sharing, encourage businesses to open representative offices or branches and set up companies in each country.

The Ministry of Industry and Trade always creates favourable conditions for Czech businesses to increase cooperation in industry and trade in accordance with Vietnam’s laws and policies, he added.

Two-way trade between the two countries saw a steady growth in recent years. The figure rose from US$100 million in 2005 to UD$294 million in 2008 and reached US$300 million one year later.

Considering Vietnam as a traditional market with many advantages, Czech enterprises have so far invested about US$35 million in production of glass, crystal, electrical appliances and construction materials.

In 2010, Vietnam and the Czech Republic are celebrating the 60^th anniversary of diplomatic ties.