A melon farm in Ninh Thuan (Photo: VNA) HCM City (VNA) – Vietnamese enterprises should focuson meeting quality requirements and ensuring green and sustainable growth, expertssaid at the Vietnam-EU Trade Forum held in Ho Chi Minh City on September 29.
Speaking at the event co-organised by the Vietnamese Ministry of Industry and Trade, and the EU Delegation to Vietnam, Minister of Industry and Trade NguyenHong Dien said that over the past more than two years since the EU-Vietnam FreeTrade Agreement (EVFTA) took effect, the two sides have witnessed fluctuations of theglobal economy as well as the economies of the EU and Vietnam amid the COVID-19 pandemic,regional and global geo-political instability.
Data from the General Department of Vietnam Customs showed that theEU is now a leading trade partner, the third biggest export market and thefifth largest import market of Vietnam. Meanwhile, Vietnam surpassed Singapore to becomethe biggest trade partner of the EU in ASEAN and the world's 11th biggestsupplier of goods to the bloc.
Experts discuss EU-Vietnam cooperation at the forum. (Photo: VNA) From August 2021 to July 2022, two-way trade between Vietnam and the EUreached 61.4 billion USD, up 11.9% from the first year of EVFTA enforcement. Ofwhich, Vietnam shipped 45 billion USD worth of products to the EU, up 17%.
In the first eight months of this year, the figure hit 42.4 billion USD,marking a 14.85% rise year-on-year. Vietnam mainly exported machinery, garment andfootwear, coffee, aquatic products, fruits and vegetables, pepper and rice tothe EU.
Dien added that the Vietnamese Government is keen on expanding the markets and boosting its comprehensive partnership with the EU and its member states, thus makingit easier to expand bilateral ties, not only in trade but also other economic areas.
Chairman of the European Chamber of Commerce in Vietnam (EuroCham) AlainCany said in order to be able to compete in the EU and fully tap advantagesfrom the signed FTAs, Vietnamese enterprises need to comply with strict environmentstandards and meet demands for green and sustainable consumption trend, which isinevitable in the world and a mandatory path for them to deeply join the newvalue chain.
The EU encourages the development of green and renewableenergy sources in Vietnam, he said, adding that European firms want to bepresent in Vietnam to share their experience, technology and investment./.
