Businesses seek to optimise opportunities from EVFTA amid COVID-19

Hanoi (VNA) - Close to 150 businesspeople active in agricultural products, food processing, paper making, functional foods, logistics, and banking came together at a seminar in Hanoi on June 17 to seek opportunities from the EU-Vietnam Free Trade Agreement (EVFTA) amid the COVID-19 pandemic.

Legal consultants were also on hand to provide support regarding laws on international trade.

Hoang Quang Phong, Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), said the pandemic has affected every region of the world and many countries have suffered heavy human and economic losses.

Vietnam, however, has curbed the spread of the virus and begun to recover its economy in the “new normal” conditions, he said.

The EVFTA will take effect from August 1 this year and is expected to pave the way for businesses to make inroads into fastidious markets with huge potential in the European bloc, he added.

Tran Huu Huynh, Chairman of the Vietnam International Arbitration Centre (VIAC), suggested businesses study market practices to avoid legal risks when conducting international trade.

Jean Jacques Bouflet from the European Chamber of Commerce in Vietnam (EuroCham) updated those at the seminar on the COVID-19 situation in Europe as well as trade policies being implemented to support global trade, especially in establishing new consumption and supply chains./.