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ASEAN, EU firms look to stronger links

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A number of businesses met in Hanoi on March 8 to explore trade and investment opportunities with ASEAN and EU partners.

As part of the ASEAN–EU Business Summit, the event was organised by the Vietnam Chamber of Commerce and Industry (VCCI).

Addressing the event, VCCI Chairman Vu Tien Loc said ASEAN is a dynamic economic region with average annual growth of 5.5 percent. It has rising purchasing power and a higher role in the international arena, he added.

The two regions have agreed to boost economic links for sustainable growth. The businesses are ready to thrive in fields of their strength and high demand like footwear, agro-fishery, human resource development, clean energy and infrastructure, Loc said.

A Myanmar representative introduced to international investors promising fields like transport infrastructure, sea ports, roads and trans-national transport, especially in the Greater Mekong Sub-region.

Participants also pointed out shortcomings in ASEAN, like the economic development gap among member nations, differences in environment, and laws on investment and trade, especially taxation, customs, economic and technology potential, and human resource quality.

They suggested governments promptly negotiate a suitable cooperation mechanism and establish a free trade area between the two regions.-VNA
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