Home » Trade » Vietnam-Finland trade enjoys rapid growth

Two-way trade between Vietnam and Finland has grown consistently, to US$200 million in 2011 and to US$260 million in the first nine months of 2012.

The figures were unveiled by Doan Duy Khuong, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI), at a seminar on the potential for trade with Finland and northern Europe, held in Hanoi on November 21.

Vietnam’s main exports to Finland are coffee, rubber, footwear, textiles and garments, handicraft, wood products, bicycles and spare parts, Khuong said.

Meanwhile, it imports machinery, equipment, telecommunication products, textiles accessories, electrical items, and steel.

Finland now ranks 26th out of 94 foreign investors in Vietnam, with US$340 million funneled into agricultural, forestry and water treatment projects.

Briefing Vietnamese businesses on opportunities in Finland, Finnish Ambassador to Vietnam Janne Sykko said despite its small population of five million, his country sustains high level of competitiveness, with trade contributing a large proportion to its GDP.

Finland’s main exports are steel products, machinery, vehicles, and optical devices.

Sykko said Finland will offer more incentives to encourage businesses to cooperate with their Vietnamese partners.

Also at the seminar, the Ministry of Science and Technology and Finland’s Foreign Ministry introduce a joint Innovation Partnership Program, aimed at sharpening the management and institutional capacity in the science and technology sector.

It will also help facilitate the growth of public-private partnerships, both  within Vietnam and between Vietnam and Finland.


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