Delegation of the European Union to India and Bhutan

Roundtable Seminar: EU-Vietnam Free Trade Agreement - Improving the Business Environment

Ho Chi Minh City, 18/12/2020 - 08:34, UNIQUE ID: 201218_30
Press releases

EVFTA

On December 18, 2020, a Roundtable Seminar entitled"EVFTA - Improving the Business Environment" isbeing organized by the EU Delegation to Vietnam atthe Liberty Hotel, District 1, Ho Chi Minh City. The seminar is expected to create an open forum for representatives from the EU Delegation to Vietnam, Vietnamese Government ministries and agencies, as well as Vietnamese and European trade associations and enterprises to discuss, share and exchange ideas on the EVFTA. 

The EU-Vietnam Free Trade Agreement (EVFTA) has already had a significant impact on EU-Vietnam bilateral trade since its entry into force on August 1st, 2020 as is reflected by the strong growth of Vietnam’s exports to the EU in recent months. Besides, in the opposite direction, according to the General Statistics Office of Vietnam, import turnover from the EU to Vietnam in the first 11 months of 2020 has increased 4.3% year-on-year. These are positive signs showing that EVFTA has been opening up important opportunities for the sustainable development of bilateral trade relations. The EVFTA should continue to offer important opportunities for the sustainable development of bilateral trade relations.

These are the initial developments in terms of quantity. The EVFTA, is also expected to bring qualitative changes to the economy such as comprehensive improvement ofthe business environment and regulations, as well asbalancing the import and export structure of Vietnam. These changes have been witnessed through the development of Vietnamese enterprises as well as the favorable FDI inflows from the EU.

The Roundtable Seminar with the theme” EVFTA - Improving the Business Environment” is being organized as an opportunity for all parties to discuss and exchangeadvantages, challenges, and efforts from the Vietnamese Government as well as the Vietnamese and

European business community in enhancing the investment and business environment in Vietnam, thereby catching up with the daily production and business activities of enterprises, fully and swiftly capitalizing on the benefits that the EVFTA can bring going forward.

Speaking about the seminar, Head of the Delegation of the European Union to Vietnam, Ambassador Giorgio Aliberti said: “The EVFTA is an opportunity for Vietnamese manufacturers to participate in the global value chain with European companies. The agreement also paves a broader way for European businesses to invest in Vietnam. Opportunities are available. However, creating a more stable and predictable business environment and bringing advantages to businesses areespecially important. And we need to see this aspect in a clearer and more specific way to effectively implement the EVFTA, giving a nudge to economic development."

The Seminar is being attended by officials from Vietnamese Government agencies, members of Vietnamese and European trade associations, and the Vietnamese business community, especially small and medium-sized enterprises. It is expected to contribute more ideas to better improve Vietnam’s business climate in order to facilitate trade and attract more investment from the EU, thus contributing to the sustainable development of Vietnam.

Detailed information about the Roundtable Seminarcan be found in the link: Agenda of Roundtable Seminar in HCMC

 

Media contact: Ms. Vien Ngoc Bich, Press Officer of the EU Delegation to Vietnam, Tel: 09461783, Email: Bich.VIEN@eeas.europa.eu

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