Illustrative photo (Photo: VNA)

Hanoi (VNA) – Vietnam’s economic development and opportunities generated by the EU-Vietnam Free Trade Agreement (EVFTA) were discussed at a recent workshop in Poland’s Vacsava capital city.

Delegates at the event took note of Vietnam’s positive economic prospects in 2018, especially increasing foreign direct investment (FDI) inflows to the country.

Statistics reveal that in 2017 alone, Vietnam attracted 36 billion USD in FDI, the highest amount over the past decade.

Regarding the EVFTA, a new-generation FTA between Vietnam and 28 EU members, the delegates said the deal is expected to open up new opportunities for exporters with preferential taxes.

The EU is Vietnam’s second biggest importer, with 18 percent of Vietnamese goods shipped to the region.

Vietnam runs a trade surplus of 31.8 billion USD with the EU in 2017, with exports to the market growing 12.7 percent.

Talking about the illegal, unreported and unregulated (IUU) fishing under the European Commission (EC)’s yellow card warning, the participants highlighted Vietnam’s efforts to complete institutions, improve State management capacity and fishermen’s awareness of IUU fishing, in order to remove the warning.

They suggested Vietnam learn from Poland’s experience in building a legal foundation and implementing IUU regulations, while seeking cooperation in training experts in this field.

They also underlined the need to encourage Poland to soon complete procedures to approve the EVFTA in order to promote Vietnamese seafood exports to the market.-VNA