Vietnam – Poland trade hopes as Free Trade Agreement kicks in

Vietnam and Poland hold substantial potential for stepping up trade, especially in agricultural products and food, via the optimisation of incentives contained within the EU-Vietnam Free Trade Agreement (EVFTA), experts said at an online workshop held in HCM City on April 22.

Vietnamese Ambassador to Poland Nguyen Hung told the workshop that trade between the two countries has seen continuous growth over the years, even in 2020, despite COVID-19, it still hit 15.5 percent.

Vietnam considers Poland among its top economic partners in Eastern Europe, while the latter thinks of the former as its strategic partner in Southeast Asia.

Both boast advantages in agriculture, and their products complement rather than compete against each other, the diplomat noted.

While Poland produces and exports a large quantity of meat and milk products, Vietnam’s export strengths are in coffee, cashew nuts, and peppercorn. Notably, after the EVFTA came into force, these products enjoy many preferential tariffs, creating even more favourable conditions for trade exchange.

Piotr Harasimowicz, Chief Representative Officer of the Polish Investment and Trade Agency in HCM City, said that following the pact’s entry into force, Polish importers have increased their purchases of products from Vietnam to secure quality supply sources at more competitive prices.

In addition to trade, Polish investors are also interested in telecom, finance, and transport projects in Vietnam, he added.

Nguyen Thanh Hai, Vietnamese Trade Counsellor to Poland, told the workshop that tariff reductions under the EVFTA help boost the competitiveness of Vietnamese farm produce such as rice, coffee, cashew nuts, and shrimp.

He underscored the export of fruit and juices to Poland as a promising endeavour for Vietnam, as these products have recently posted good sales in the country.

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