Business

EU interested in cooperating with Vietnam

The European Union (EU) is interested in cooperating with Vietnam as it is looking to help small and medium-sized enterprises extend their reaches in and outside the region.
The European Union (EU) isinterested in cooperating with Vietnam as it is looking to help smalland medium-sized enterprises extend their reaches in and outside theregion.

European Commission Vice President and Commissionerresponsible for Industry and Entrepreneurship Antonio Tajani made thepoint while meeting with Minister of Industry and Trade Vu Huy Hoang inHanoi on November 13.

Tajani said the EU, as theworld’s largest import-export market and the top investment destination,plans to work on certain growth factors and create more jobs in theregion.

Minister Hoang said with nearly 30 billion USD inbilateral trade last year, the EU is the largest market for Vietnamesegoods and the second largest trade partner of Vietnam.

He said as both sides are working hard to conclude negotiations on afree trade agreement by late 2014 which once signed will lift Vietnam- EU economic ties to new heights with broader scope and betterquality.

Both host and guest affirmed their intention to further strengthen bilateral trade and investment in the time ahead.

Between January-September this year, two-way trade between Vietnamand the EU jumped 20.8 percent year on year, topping 24.8 billion USD.

By late September, EU member nations invested in over 1,800 projects valued at nearly 33 billion USD in Vietnam.

The EC Vice President is leading a business delegation on a visit toVietnam on November 12 and 13 as part of EU’s efforts to deepeneconomic relations with countries in the ASE AN region, includingVietnam.-VNA

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