The EU-Vietnam Free Trade Agreement (EVFTA) will create ampleopportunities for enterprises from both sides, heard a talk on the dealheld in Flamand, Belgium on May 19.
Vietnam’s dynamiceconomy will open up great opportunities for foreign investors,especially enterprises from the EU, stated Deputy Director General ofthe European Commission’s Directorate General for Trade MauroPetriccione, who is also Chief Negotiator for the EU.
He saidthat during negotiations, Vietnam and the Europe have reached agreementsin wooden furniture, services, investments, tariffs, governmentpurchasing, competitiveness and sustainable development.
For hispart, Vietnamese Ambassador to Belgium and Head of the Vietnam Missionto the European Union Vuong Thua Phong said that the EVFTA will bringVietnam and the EU a stable business climate while fuelling economicgrowth for both sides.
He underscored that the trade deal willhelp the EU balance its trade deficit with Vietnam, promoting tradethrough liberalisation and market approaches.
However, theAmbassador pointed to challenges faced by the Vietnamese economy such aslow competitiveness compared to European businesses across capital,technology, experience and labour quality.
Vietnam is atrustworthy partner of the EU, Minister-President of the government ofFlanders Geert Bourgeois told a Vietnam News Agency correspondent,expressing his hope that the EVFTA will be signed this summer.
On May 18, the Belgium-Vietnam Chamber of Commerce and Industry (CCIBV) also held a conference on Vietnam-EU trade relations.
TheEU is one of the large import markets for Vietnamese commodities,particularly leather shoes, garments, farm produce and aquaculture.
In 2014, the EU became the biggest importer of Vietnamese leathershoes when over 2 billion USD worth of goods were shipped to Europeancountries, followed by garments with 1.98 billion USD and aquaticproducts with 950 million USD.
After signing the trade deal, 90percent of Vietnamese goods being exported to European markets will goenjoy tariff of zero percent.
Vietnam is the third ASEAN country to hold FTA negotiations with the EU after Singapore and Malaysia.-VNA
Vietnam’s dynamiceconomy will open up great opportunities for foreign investors,especially enterprises from the EU, stated Deputy Director General ofthe European Commission’s Directorate General for Trade MauroPetriccione, who is also Chief Negotiator for the EU.
He saidthat during negotiations, Vietnam and the Europe have reached agreementsin wooden furniture, services, investments, tariffs, governmentpurchasing, competitiveness and sustainable development.
For hispart, Vietnamese Ambassador to Belgium and Head of the Vietnam Missionto the European Union Vuong Thua Phong said that the EVFTA will bringVietnam and the EU a stable business climate while fuelling economicgrowth for both sides.
He underscored that the trade deal willhelp the EU balance its trade deficit with Vietnam, promoting tradethrough liberalisation and market approaches.
However, theAmbassador pointed to challenges faced by the Vietnamese economy such aslow competitiveness compared to European businesses across capital,technology, experience and labour quality.
Vietnam is atrustworthy partner of the EU, Minister-President of the government ofFlanders Geert Bourgeois told a Vietnam News Agency correspondent,expressing his hope that the EVFTA will be signed this summer.
On May 18, the Belgium-Vietnam Chamber of Commerce and Industry (CCIBV) also held a conference on Vietnam-EU trade relations.
TheEU is one of the large import markets for Vietnamese commodities,particularly leather shoes, garments, farm produce and aquaculture.
In 2014, the EU became the biggest importer of Vietnamese leathershoes when over 2 billion USD worth of goods were shipped to Europeancountries, followed by garments with 1.98 billion USD and aquaticproducts with 950 million USD.
After signing the trade deal, 90percent of Vietnamese goods being exported to European markets will goenjoy tariff of zero percent.
Vietnam is the third ASEAN country to hold FTA negotiations with the EU after Singapore and Malaysia.-VNA
