Vietnam and Poland target bilateral trade turnover of $5 billion

January 17, 2025 | 17:23
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Prime Minister Pham Minh Chinh has proposed the strengthening of economic ties with Poland to increase bilateral trade to $5 billion.
Vietnam and Poland target bilateral trade turnover of $5 billion
Photo: VGP

The Prime Minister was speaking at a meeting with Polish Prime Minister Donald Tusk in Warsaw, Poland on January 16, where Prime Minister Tusk proclaimed Vietnam's status as a long-standing friend and an important partner of Poland in Southeast Asia.

PM Chinh expressed his hopes that the two countries will soon upgrade their relationship to a strategic partnership and make economic cooperation a key pillar of bilateral relations.

Bilateral trade between Vietnam and Poland reached over $2.5 billion per year in the 2021–2023 period. As of the end of last November, the trade turnover had climbed to $3.15 billion.

Poland ranks 21st out of 149 countries and territories investing in Vietnam, with 32 valid projects, with a total registered capital of $473 million. Meanwhile, Vietnam has four ventures in Poland, with an investment capital of $1.84 million.

Vietnamese exports to Poland were dominated by computers, electronic products and components, machinery, equipment, spare parts, textiles and garments, and footwear. Meanwhile, Polish exports to Vietnam include machinery, pharmaceuticals, milk, and dairy products.

Chinh also proposed bolstering collaboration in fields such as security, defence, education, digital transformation, green transition, and chip manufacturing.

In response, PM Tusk declared that Poland will soon ratify the EU-Vietnam Investment Protection Agreement (EVIPA) and support the European Commission in lifting the European Commission's 'yellow card' for Vietnam’s seafood exports to the EU market.

Both leaders also agreed to expand their cooperation into potential fields such as renewable energy, digital transformation, and IT. This is coupled with cooperation in defence, trade, investment, transportation, railway connectivity, and pharmaceuticals. The two nations will also facilitate each other as gateways for goods entering the ASEAN and EU markets, respectively.

Vietnam seeks to expand exports to EU via Poland Vietnam seeks to expand exports to EU via Poland

Effectively exploiting the Polish market is one of the ways to help Vietnamese goods make inroads into the EU market, experts told a workshop held by the Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) on January 28 on the prospects for Vietnam’s exports to the EU through the Polish gateway.

Cooperation between Poland and Vietnam reaching new heights in time of adversity Cooperation between Poland and Vietnam reaching new heights in time of adversity

Over the past year and a half, the COVID-19 pandemic has affected a great number of people across the globe. This period will undoubtedly be remembered in most countries as filled with adversity and suffering. But a redeeming feature of this challenging time has been our ability to forge stronger relations.

More support forthcoming thanks to Polish interest More support forthcoming thanks to Polish interest

Poland and Vietnam continue to enjoy a thriving trade and investment partnership in light of the EU-Vietnam Free Trade Agreement. Piotr Harasimowicz, chief representative officer at the Polish Investment and Trade Agency, discussed with VIR’s Thanh Van about the trends of Polish-Vietnam trade ties.

By Thanh Van

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