Croatian ties ripe for turnover expansion

Vietnam and Croatia are seeking to double their trade via a new economic tool, with the former calling for more investment from the latter.

- By Thanh Dat

Croatian Minister of Foreign and European Affairs Gordan Grlić Radman met with Prime Minister Phạm Minh Chính.

During last week’s meeting in Hanoi with Croatian Minister of Foreign and European Affairs Gordan Grlić Radman, Prime Minister Le Minh Hung stated that Vietnam and Croatia are to make substantive progress in economic, trade, and investment cooperation, with a view to doubling two-way trade turnover from the level of $161.3 million last year, up around 20 per cent compared to 2024.

At present, Vietnam largely exports light industrial and consumer goods to Croatia, with key items including textiles and garments, and manufactured transport equipment, while Croatia’s key shipments to the Southeast Asian nation are dominated by raw materials and industrial components, specifically sawn and rough wood, along with electric motor parts.

According to the Department of Information and Press (DIP) under the Vietnamese Ministry of Foreign Affairs, to expand bilateral trade and investment cooperation, PM Hung suggested studying the establishment of a joint committee mechanism on economic cooperation to provide a framework for long-term, stable, and effective collaboration, with an expansion of traded item portfolios.

The Vietnamese leader also “encouraged Croatian businesses to invest in sectors where Croatia has strengths and Vietnam has demand, including seaports, logistics, renewable energy, tourism, science and technology, digital transformation, innovation, and climate change response,” the DIP said.

Currently, both sides have no official investment projects in their respective markets.