Estonia and Vietnam

Stored in:

Country by Country

Estonia and Vietnam

Bilateral relations

(last updated: 03.01.2013)

Diplomatic relations between Estonia and Vietnam were established on 20 February 1992 and the first ambassador to Estonia was accredited in 1997. The current ambassador, Doan Ngoc Boi, presented his credentials to President Toomas Hendrik Ilves on 25 August 2010. The ambassador resides in Helsinki.

Estonian Ambassador to the Socialist Republic of Vietnam Toomas Lukk resides in Beijing.

Visits

The first and thus far only high-level bilateral visit took place from 5-8 November 2011, when Estonian Prime Minister Andrus Ansip visited Hanoi. The prime minister was accompanied on his official visit by a business delegation. Within the framework of the visit, a business seminar took place and a co-operation protocol between the foreign ministries of the two countries was signed. Of older visits, the following were the most significant: in 2006 Deputy Minister of Industry and Trade Le Danh Vinh visited Estonia. In connection with the ASEM summit, Prime Minister visited the Socialist Republic of Vietnam in 2004. In connection with a meeting of the foreign ministers of the same organisation, Foreign Minister Urmas Paet visited Hanoi in 2009; during his visit he also met with Vietnamese Foreign Minister Pham Gia Khiem. The last bilateral meeting took place in June 2012, when Vietnamese Deputy Foreign Minister Bui Thanh Son visited Estonia.

Economic relations

Due to great geographical distance and cultural differences between the countries, economic relations between Estonia and Vietnam are modest. An active reform policy and rapid economic development have been the catalysts behind Vietnam’s activity in the direction of all the continents, but profound corruption and the inprofitable management of national firms have had a negative effect on the Vietnamese market. Estonia’s growing interest in Vietnam is demonstrated by growing Estonian export to the country, which in 2012 brought a positive trade balance. However, it must be said that the sums are still quite small (in 2011 trade turnover was under 10 million euros). Estonia primarily exports metals and chemicals to Vietnam and imports seasonings and textiles. For its part, Vietnam has expressed interest in co-operating first and foremost in the information and biotechnology (for use in agriculture) sectors, as well as in developing tourism.

TRADE

In 2011 Estonia’s export to Vietnam reached 4 million euros and import was 5.6 million euros. In the first half of 2012 export exceeded import and the turnover for half the year was 4.6 million euros. Vietnam ranked 60th among Estonia’s trade partners. No significant reciprocal investments have been made.

Main articles of export in 2012: