Switzerland trade relations grow

Viet Nam and Switzerland exchanged a series of trade delegations to study each other's markets and seek investment opportunities in 2008, opening a new phase in the relationship between the two countries, according to the Vietnamese Trade Office in Switzerland.

Viet Nam's exports to Switzerland grew 32 per cent year-on-year during the first 10 months of 2008, with products such as seafood, coffee, garments, footwear and handbags leading the list of top exports.

Imports from Switzerland also grew during the period by a similarly impressive 39 per cent, with leading imports including chemical products, pharmaceuticals, steel products, and equipment, as well as gold.

Meanwhile, leading Swiss companies including top global reinsurer Swiss Re, food and beverage giant Nestle, international power and automation technology group ABB and cement giant Holcim have all established a presence in Viet Nam.

Swiss investors also pumped US$660 million into 11 projects in Viet Nam last year, making Switzerland the 12th leading source of foreign investment into the country.

Swiss President Pascal Couchepin said during his state visit to Viet Nam last August that Switzerland wished to boost trade and investment co-operation with the country and was ready to share its experiences with the country in increasing productivity and the value of products.

Couchepin pledged to support increased imports of coffee and garments to the Swiss market as well as encourage Swiss enterprises to invest in Viet Nam.

Since 2002, Switzerland has facilitated the participation of Vietnamese enterprises in large international trade exhibitions there and assisted firms to introduce products and find customers in Switzerland.

The Swiss Import Promotion Programme is also mapping out various projects for 2008-11 to assist Vietnamese small -and medium-sized enterprises to integrate into the world economy. These projects fall within the framework of Swiss-funded technical assistance projects to help Viet Nam access the global economy, especially Swiss and European markets.

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