EVFTA opening up space for bilateral trade to grow further. (Photo: VNA) Singapore (VNA) - More than 100 multinational groups from theEU operating in Singapore took part in an online conference on September 25 to gaininsights into new investment and business opportunities in Vietnam following theEU-Vietnam Free Trade Agreement (EVFTA) taking effect.
In her opening remarks, Vietnamese Ambassador to Singapore Tao Thi ThanhHuong spoke of Vietnam’s economic achievements, such as 7 percent GDP growth,low inflation, an improved sustainable growth index, and reduced poverty, amongothers.
She emphasised the thriving nature of economic ties between the countryand the EU. Bilateral trade hit 54.6 billion USD in 2019, and the EU iscurrently Vietnam’s 5th-largest foreign investor, with over 2,200projects worth 24.67 billion USD.
Huong noted that the EVFTA are opening up space for bilateral trade togrow further, while EU companies now have favourable conditions to conduct businessin Vietnam and find a gateway to the 655 million people throughout SoutheastAsia.
The conference provided information on Vietnam’s business climate, new economicpolicies, and preparations for the deal now it has taken effect. It also discusseda number of topics of interest to EU firms, like the digital economy ande-commerce, technology, and technological solutions in production, and ways toapproach the Vietnamese market.
It was co-organised by the Vietnam Embassy and Trade Office in Singapore,the EU-ASEAN Business Council, the Singapore International Chamber of Commerce,and the European Chamber of Commerce in Vietnam./.
VNA
