Vietnamese and Austrian businesspeople met in a forum in Hanoi onMarch 13 to look for ways leading in boosting the two countries’economic and trade ties.

The forum was jointly held by theVietnam Chamber of Commerce and Industry (VCCI) and Austria ’sCarinthia Economic Chamber (CEC).

Addressing the event, VCCIDeputy Chairman Doan Duy Khuong pledged that the chamber will createevery possible condition for Austrian firms to invest and expandbusiness in Vietnam .

He reiterated the country’s policy oftreasuring the promotion of cooperation with traditional friends thatinclude Austria , one of the first Western nations that establisheddiplomatic ties with Vietnam .

Khuong spoke of Vietnam ’spopulation of over 80 million, its position as the gateway to otherlarger regional markets as well as the government’s ongoing reforms andpolicies to encourage private sector development and build completelegal institutions, market economic mechanism and infrastructure.

Hesaid he believes that these advantages and efforts will make Vietnaman attractive destination for foreign investors, including those fromAustria .

Austrian Ambassador Georg Heindl said Austria isenjoying a good political system and a strongly-developed industry andsees them as huge opportunities to increase trade and investment withVietnam .

Austria also recognises stronggrowth potentials in Vietnam in particular and Asia in general so thisforum will be a chance for it to continue working with Vietnam formore successes in the future, the diplomat said.

According to the Ministry of Industry and Trade, bilateral trade betweenthe two countries increased robustly, from 175 million USD in 2007 tonearly 1.3 billion USD in 2012. The figure is expected to rise higher inthe time to come.-VNA