Trade officials put forward proposals to create a stable legal corridor to facilitate trade and investment activities between Vietnam and the European Union (EU), at the Vietnam-EU business forum in Ho Chi Minh City on May 18.

The forum is an annual event jointly organised by the EU delegation in Vietnam and Vietnam Chamber of Commerce and Industry, to enhance mutual understanding between the two communities’ businesses.

Vietnam exports mainly footwear, seafood and farm products to the EU, accounting for 17 percent of the country’s total exports. At present Vietnam and the EU are preparing for negotiations on a bilateral FTA which will last for three years, giving Vietnamese businesses the potential to tap markets in 27 EU member countries.

During the 2011-2013 period, Vietnam enjoys the EU generalised system of preference with around one-fourth of the country’s exports being entitled to this treatment.

However, Vietnamese goods still face technical barriers that make entry to the EU market difficult.-VNA