Austrian President Heinz Fischer- Photo: AFP

(VOVworld)- Austrian President Heinz Fischer has praised Vietnam’s achievements in poverty reduction and socio economic development. At a reception for outgoing Vietnamese Ambassador to Austria Nguyen Thiep, the Austrian President expressed his belief that Vietnam would continue to gain further success and contribute more to peace and stability in the region and the world. President Fisher said he was delighted with the rapid development of Vietnamese-Austrian relations, especially increasing trade over the past three years. According to the Ministry of Industry and Trade, two-way trade between Vietnam and Austria reached more than 1 billion USD last year. In May, 2014, the Austrian Ministry of Finance and the Vietnamese Ministry of Planning and Investment extended the Preferential Credit Agreement between the two countries to 2 more years with an additional credit of more than 100 million euros.