Hanoi (VNA) – Sweden will helpVietnam in areas of its strength like energy saving, focusing on renewableenergy development, Swedish Minister for Foreign Trade Ann Linde has said.

Linde made the pledge during her meetingwith Vietnamese Minister of Industry and Trade Tran Tuan Anh in Hanoi on May 8,which took place within the framework of the visit to Vietnam by Crown Princessof Sweden Victoria Ingrid Alice Désiree.

Sweden will also back Vietnamese small-and medium-sized enterprises, while assisting the country in building policies,developing infrastructure, and training personnel to meet the requirements ofthe fourth Industrial Revolution and the digital economy, she said.

The minister affirmed Sweden’s supportto Vietnam at the European Commission (EC) in signing and ratifying the EU-VietnamFree Trade Agreement and EU-Vietnam Investment Protection Agreement.

The Swedish Government and businessesalways give deep sentiments and attention to Vietnam, she said.

The two ministers noted with pleasurethe development of the bilateral cooperation and exchanged views on issues ofshared concern.

Anh said the Vietnamese Ministry ofIndustry and Trade (MoIT) will fulfil its role as a bridge between enterprisesof the two countries for mutual development, while closely coordinating withrelevant ministries and agencies in setting forth development orientations inthe spheres of common concern such as energy, supporting industry, retail, andvocational training.

He pointed out, however, that thebilateral trade has yet to match potential of both countries.

In 2018, two-way trade reached only 1.5billion USD, a year-on-year rise of 14.34 percent, of which Vietnam’s exports stoodat 1.16 billion USD, up 18.99 percent, and imports hit 345 million USD, up 1.09percent.

According to the MoIT’sEuropean-American Market Department, in the first quarter of 2019, Vietnamexported 324 million USD worth of goods to Sweden and imported 72 million USDfrom the country, with total revenue up 4.37 percent against the same periodlast year.

Sweden now ranks 33rd among 131countries and territories investing in Vietnam, with 67 valid projects valuedat over 365 million USD.

Currently, the European country isrunning many business projects in Vietnam, covering various realms like retail,machine manufacturing, electricity, IT and telecommunications, urban transportinfrastructure, electronics, food processing, and education-training.

On the occasion, Anh attended theVietnam-Sweden Business Forum and chaired the Vietnam-Sweden Business Summit.–VNA