Vietnam Time

11/24/2017 10:18:57 PM

Polish President to visit Vietnam

Polish President Andrzej Duda and his spouse will pay a State visit to Vietnam from November 27 to 30 at the invitation of State President Tran Dai Quang.

President Andrzej Duda (Source: VNA)

President Duda will be accompanied by representatives from the Polish Government as well as a sizable business delegation.

He will inaugurate the Foreign Trade Office of the Polish Agency of Investment and Trade in Ho Chi Minh City during the visit. The office is expected to facilitate trade, business, and investment cooperation between the two countries’ businesses.

Poland and Vietnam have a long tradition of friendly relations. Poland was among the first countries to recognize Vietnam, in 1950, and established diplomatic relations. The two then cooperated closely in various areas, including academic, scientific, cultural and economic spheres.

Poland has also supported Vietnam’s development. A provincial hospital in north-central Vinh city was built in the 1980s from Polish development aid. The hospital, previously known as the Vietnamese-Polish Friendship Hospital, is now supported by Polish development grants. A handover ceremony for newly-delivered equipment financed by the Polish Government took place in October.

Poland also provides official development assistance (ODA) to Vietnam. The latest framework credit agreement, with €250 million ($296.5 million), will be signed during President Duda’s visit.

Vietnam is Poland’s most important economic partner and largest trade partner in ASEAN. Following the establishment of the ASEAN Economic Community, Vietnam will be considered a gateway for the country to all ASEAN markets.

It is also one of the most important markets among non-European countries, with total bilateral trade turnover of nearly $2 billion in 2016 and $1.58 billion in the first nine months of 2017, up 13 per cent year-on-year.

Vietnam’s strong position in Poland’s trade development strategy was confirmed when the Polish Government named its five most prospective markets in the world, with Vietnam being among them.

Sectors where cooperation is developing at its most dynamic include agro-food (65 per cent of Poland’s exports to Vietnam) and pharmaceuticals.

There is also major potential in sectors such as cosmetics and dietary supplements (skincare, multivitamins, etc.), green technologies (clean energy, eco-transport, and wastewater treatment), software/IT, heavy industry (mining, shipbuilding, and machinery), equipment for agricultural production, and food processing.

The Polish-Vietnamese Economic Forum and a business mission of Polish companies will be organized during President Duda’s visit.

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