Participants at the event (Source: VNA)
Brussels (VNA) – European businesses expressed their support forthe signing and ratification of a free trade agreement between the EuropeanUnion (EU) and Vietnam (EVFTA) at a conference on October 8.
Addressing the event in Brussels, Belgium, Chairman of the EuropeanChamber of Commerce in Vietnam (EuroCham) Nicolas Audier noted the investmentand business environment in Vietnam has improved.
He said the FTA will benefit European firms in many areas, includingpharmaceuticals.
Audier noted 80 percent of EuroCham member enterprises feel optimistic aboutthe business outlook in Vietnam and hope that the EVFTA will be signed andapproved soon.
Vietnamese Ambassador to Belgium and head of the Vietnamese Mission tothe EU Vu Anh Quang said Vietnam is a promising market with rapid and stableeconomic growth.
Over the years, Vietnam has shared many initiatives of the EU inpromoting global cooperation and collaboration with the bloc in trade liberalisation,climate change response and sustainable growth.
The diplomat stressed the EVFTA is a tool to strengthen the multi-facetedpartnership between the EU and Vietnam, bringing benefits to enterprises andpeople of both sides.
Thomas Debelic, Chairman of the German Business Association, saidEuropean investors in Vietnam will enjoy better assurances thanks to theInvestment Protection Agreement (IPA), which has been separated from the EVFTA.
He said that the more than 120,000-strong Vietnamese community in Germanyis a great strength of bilateral relations.
At the event, speakers from European businesses operating in Vietnam discussedthe impacts of the EVFTA on the reforms of Vietnam. They asserted opportunitiesfor business cooperation are increasing, especially trading activities betweenVietnam and the EU due to the diversity and supplementary strengths of bothsides. Consumers of the two sides will also benefit from the process, they added.
They noted Vietnam is improving its illegal and unreported fishing situationin line with the European Commission’s recommendations.
Mariam Garcia Ferre from the EU Delegation to Vietnam said the EU hassupported Vietnam, through independent consultation experts, in building actionplans and programmes to become ready to implement commitments stated in the deal.
Meanwhile, Filip Deraedt, who represents the EC, said that the EVFTA andIPA have been translated into languages of EU countries and Vietnamese to besubmitted to the EC and the Vietnamese Government before the ratificationprocess is undertaken in the European Parliament and Vietnam’s National Assembly.-VNA
