The recently ratified EU-Vietnam Free Trade Agreement (EVFTA) is likely to accelerate trade between Vietnam and Poland, according to International Business Times.
Illustrative image (Source: VNA)
The newspaper quoted Piotr Harasimowicz, Chief Representative Officer of the Polish Investment and Trade Agency in Ho Chi Minh City, as saying that Vietnam is one of the most promising markets for Polish companies in Southeast Asia.
The official said latest data from the agency showed bilateral trade between the two countries surpassed 3 billionUSD in 2019. The key sectors of cooperation are agri-food, pharmaceuticals, cosmetics, green technologies and wastewater treatment.
Potential areas weresoftware/IT, heavy industries such as mining, shipbuilding, machinery and equipment for agricultural production, and food processing. Vietnam mainly exports electronics and equipment, footwear, textiles and agricultural goods such as coffee, pepper, coconut and cashews, he added.
Harasimowicz said Poland boasts a large Vietnamese community that forms a link between these two countries 5,500 miles apart.
In Poland itself, Vietnamese are now the largest community after Ukrainians, Germans and Belarusians, with nearly 12,000 holding permanent residency permits.
The Vietnamese Embassy in Poland estimated that about 20,000 to 30,000 Vietnamese people live in Poland, while the Polish government thinks the accurate number is closer to 50,000. They are concentrated in Warsaw where they own at least 500 Vietnamese restaurants./.