Ben Tre province, the Vietnamese Embassy in Belgium and Luxembourg, and the Vietnamese Delegation to the EU sign a Memorandum of Understanding on cooperation to support trade promotion and investment attraction between the EU and Ben Tre. (Photo: VNA) The event was held on the occasion of heads of Vietnamese representative offices overseas returning home to attend the 31st Diplomatic Conference and the 20th National Conference on Local Diplomacy.
In his opening remarks, Deputy Minister of Foreign AffairsNguyen Minh Vu said that Vietnam has an important position in the global andregional policies of the EU. The EU-Vietnam Free Trade Agreement (EVFTA), whichofficially took effect in August 2020, has brought Vietnam many greatadvantages in promoting cooperation with the EU.
However, the value of Vietnam's exports to the EU is stillmodest, accounting for only 2 percent of the bloc's total import turnover, while the country's attracted investment has yet to be commensurate with its potential, Vu said, adding that there remains large room for Vietnam to enhace cooperative ties with Europe.
Delegates said that the reason behind the modest cooperation outcomes is mainlybecause Vietnam has not met the EU's standards of labour, environment, logisticscosts and large transportation. The country still has limited awareness of the marketpotential, and its product quality and production progress have not met therequirements of a strict market like the EU.
To increase the efficiency of cooperation between localitiesand the EU, they stressed the need to change the mindset on theapproach method, increase investments in market research to build exportorientations and attract the EU’s investment more effectively.
Ambassadors said that Vietnam’s representative offices inthe EU will act as bridges, and provide helpful information about the market andpotential projects and coordinated closely with localities to promote theircollaboration with the EU.
Within the framework of the event, the People's Committee ofBen Tre province, the Vietnamese Embassy in Belgium and Luxembourg, and theVietnamese Delegation to the EU signed a Memorandum of Understandingon cooperation to support trade promotion and investment attraction between theEU and Ben Tre in a number of fields, especially high-tech agriculture,renewable energy, saltwater treatment technology, and tourism./.
VNA
