Trade with Swiss grows 11%

Trade with Swiss grows 11%

Two-way trade between Viet Nam and Switzerland rose 11 per cent year-on-year, reaching US$167 million over the first two months of this year, said Luong Manh Hung, Trade Counsellor at the Vietnamese Embassy in Switzerland.

During the period, Viet Nam exported $122 million worth of goods to Switzerland – 14 per cent more than last year – while its imports hit $45 million, an increase of 45 per cent.

Export turnover for machines and electrical equipment also boomed. This revealed a major structural shift in the nature of Viet Nam's exports, Hung said, since the Asian country previously exported mostly gold to Switzerland.

Vietnamese enterprises needed 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 – enforced strict quality requirements.

Organising trips for Swiss enterprises to come to Viet Nam to seek business opportunities was 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-d Swiss enterprises to Viet Nam to explore the market this year.

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