Trade with Switzerland grows 11 percent
Two-way trade between Vietnam and Switzerland rose 11 percent year on year, reaching US$167 million during the first two months of this year, has said Luong Manh Hung, Trade Counsellor at the Vietnamese Embassy in Switzerland.
During the period, Vietnam exported US$122 million worth of goods to Switzerland, 14 percent more than last year, while its imports hit US$45 million, an increase of 45 percent.
Export turnover for machines and electrical equipment also boomed that revealed a major structural shift in Vietnam’s exports since the Asian country previously exported mostly gold to Switzerland.
Vietnamese enterprises need to improve their understanding of Swiss quality standards and sharpen their products’ competitiveness in order to boost exports, he said, explaining that the European country with a small population of eight million enforces strict quality requirements.
Organizing trips for Swiss enterprises to come to Vietnam to seek business opportunities is a major priority for the trade office, according to Hung.
The office plans to join hands with the Asian-Swiss Chamber of Commerce to bring 15-20 small and medium sized Swiss enterprises to Vietnam to explore the market this year.