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Vietnam Today

Great potential for Vietnam - Poland economic ties

Released at: 11:48, 30/04/2015

Great potential for Vietnam - Poland economic ties

Sixty-five years of friendship provide a foundation for greater economic cooperation between the two countries.

by Thu Hoang

It’s been 65 years since Vietnam and Poland established diplomatic relations, during which time Poland has supported the development of Vietnam and educated many Vietnamese professionals. Poland has financed a range of development support, such as hospitals in Nghe An province and renovations to the ancient city of Hue. “Now this historical cooperation can forge better economic relations,” according to a press release from the Polish Embassy in Hanoi on the occasion of Poland celebrating 224 years since enacting its first constitution, on May 3.

And economic cooperation between Vietnam and Poland has great potential. Poland is Vietnam’s largest importer of goods in central and Eastern Europe, but Polish exports to Vietnam are relatively low. Balancing bilateral trade is a major challenge for both countries.

“Vietnam’s economy can achieve a lot from closer cooperation with Poland,” the press release stated. For instance, Poland is world known for its food production and processing. As the largest apple exporter in the world (bigger than even China or the US), Poland has developed state-of-the-art technologies to produce and distribute the fruit. These make Polish apples tasty and healthy, with no harmful chemical agents being used in the closely-controlled and monitored production. “Hopefully Polish apples will soon be available in Vietnam,” the press released added.

Poland’s economic success also has a Vietnamese element, with 40,000 Vietnamese citizens living and working in the country and contributing to GDP growth.

Closer economic cooperation between Poland and Vietnam is important in a rapidly developing and globalized world. Sixty-five years of friendship are a great background to more economic ties between the two countries.

The Polish constitution enacted on May 3, 1791, was the first such act in Europe and the second in the world after the American constitution. With its rich history, Poland is now entering a new “golden era”. This year’s celebrations of 65 years of diplomatic relations between Vietnam and Poland are also significant.

In 25 years Poland moved from being a middle-income country to one of the Top 20 economies in the world. Despite the global financial crisis its GDP increased 20 per cent from 2008 to 2014. It has also become an important political player in Europe. For instance, former Polish Prime Minister Donald Tusk became the Chairman of the European Council; a position often described as the President of European Union.

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