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HCM City hopes for closer cooperation with EU

Ho Chi Minh City always considers the European Union (EU) its top partner, especially after Vietnam and the union declared to conclude negotiations on their free trade agreement (FTA) last August.
HCM City hopes for closer cooperation with EU ảnh 1Illustrative image (Source: VNA)

HCM City (VNA) - Ho Chi Minh City always considers the European Union (EU) its top partner, especially after Vietnam and the union declared to conclude negotiations on their free trade agreement (FTA) last August, Vice Chairman of the municipal People’s Committee Le ThanhLiem has said.

Meeting with representatives fromthe European Chamber of Commerce in Vietnam (EuroCham)on November 3, Liem affirmed that his city pioneers in fostering collaboration with the EU in all fields, especially economy, adding that the local authorities are working to create the most favourable conditions for the foreign business community, including European companies, to operate in the city.

The municipal authorities and relevant agencies have taken a series of measures to support and resolve difficulties facing domestic and foreign businesses, he noted.

Chairwoman of EuroCham Nicola Connolly described the meeting as a chance for European enterprises toask forthe city government’s more assistancefor their operation in the locality.

Through the event, the European business community was provided with updated information related to the city’s economic and socio-cultural policies, thus seeking future investment and business opportunities in the city and inVietnam in general.

According to the municipal Department of Planning and Investment, Vietnam joined 10 bilateral and multilateral free trade agreements, and completed negotiations on FTAs with some partners, including the EU, and most recently the Trans-Pacific Partnership (TPP) agreement.

As of October this year, the EU had operated 656 investment projects worth 4.3 billion USD in Ho Chi Minh City. Two-way trade hit around 6 billion USD in 2014 and is expected to continue increasing in the coming time.-VNA

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