PM’s Ireland visit looks to increasing ties

08/03/2008 -- 6:29 PM

Ha Noi (VNA) – Prime Minister Nguyen Tan Dung will visit Ireland from March 9-10 with an eye on increasing Viet Nam ’s ties with the western European country. Viet Nam and Ireland established diplomatic ties on April 5, 1996. Viet Nam is the only Asian country that has been prioritised to be granted official development assistance (ODA) by the Irish Government. The Southeast Asian country received 3.5 million euros in 2005and 7 million euros in the following year. Trade between the two countries remains moderate despite increases. Two-way trade value rose from 43.3 million USD in 2004 to 60.3 million USD in 2006. In the first eight months of 2007 alone, it surpassed 60 million USD. Viet Nam imported mainly machinery and dairy and pharmaceutical products and exported purely footwear and household utensils to Ireland . Ireland ’s investment in Viet Nam also remains modest although the two countries set up a business association in 1995. By the end of 2007, Ireland invested in just 4 projects totalling 4.3 million USD, ranking 60 th among 81 countries and territories investing in the country. Irish companies have engaged mainly in property development, restaurants, and the production of sports equipment.-Enditem
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