European firms support EU-Vietnam FTA signing
Brussels (VNA) – European businesses expressed their support for
the signing and ratification of a free trade agreement between the European
Union (EU) and Vietnam (EVFTA) at a conference on October 8.
Addressing the event in Brussels, Belgium, Chairman of the European
Chamber of Commerce in Vietnam (EuroCham) Nicolas Audier noted the investment
and business environment in Vietnam has improved.
He said the FTA will benefit European firms in many areas, including
pharmaceuticals.
Audier noted 80 percent of EuroCham member enterprises feel optimistic about
the business outlook in Vietnam and hope that the EVFTA will be signed and
approved soon.
Vietnamese Ambassador to Belgium and head of the Vietnamese Mission to
the EU Vu Anh Quang said Vietnam is a promising market with rapid and stable
economic growth.
Over the years, Vietnam has shared many initiatives of the EU in
promoting 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-faceted
partnership between the EU and Vietnam, bringing benefits to enterprises and
people of both sides.
Thomas Debelic, Chairman of the German Business Association, said
European investors in Vietnam will enjoy better assurances thanks to the
Investment Protection Agreement (IPA), which has been separated from the EVFTA.
He said that the more than 120,000-strong Vietnamese community in Germany
is a great strength of bilateral relations.
At the event, speakers from European businesses operating in Vietnam discussed
the impacts of the EVFTA on the reforms of Vietnam. They asserted opportunities
for business cooperation are increasing, especially trading activities between
Vietnam and the EU due to the diversity and supplementary strengths of both
sides. Consumers of the two sides will also benefit from the process, they added.
They noted Vietnam is improving its illegal and unreported fishing situation
in line with the European Commission’s recommendations.
Mariam Garcia Ferre from the EU Delegation to Vietnam said the EU has
supported Vietnam, through independent consultation experts, in building action
plans and programmes to become ready to implement commitments stated in the deal.
Meanwhile, Filip Deraedt, who represents the EC, said that the EVFTA and
IPA have been translated into languages of EU countries and Vietnamese to be
submitted to the EC and the Vietnamese Government before the ratification
process is undertaken in the European Parliament and Vietnam’s National Assembly.-VNA