VN, EU promote economic linkages

The Prime Minister suggested that EU investors and businesses continue to accompany Viet Nam in implementing three strategic breakthroughs, promoting three main drivers of the country’s economic development, namely investment, export and consumption.

The host leader took the occasion to seek support for Viet Nam to access green and high-tech financial investment sources, serving the needs of sustainable development in areas such as digital transformation, green transformation, circular economy, infrastructure development, high-quality human resources training and diversification of markets, products and supply chains.

The Prime Minister urged Vietnamese and EU businesses to jointly make efforts to effectively implement the EU-Viet Nam Free Trade Agreement (EVFTA) and push the remaining EU member states to soon ratify the EU-Viet Nam Investment Protection Agreement (EVIPA). So far, 12 out of the 27 EU members have ratified the investment protection deal. 

He also proposed the EU remove the yellow card relating to illegal, unreported and unregulated fishing imposed on seafood products from Viet Nam. 

In reply, Vice Chairman of the EU - ASEAN Business Council Jens Ruebbert, said that the participation of more than 50 leaders of business giants in the delegation reflects the importance of Viet Nam.

EuroCham Chairman Alain Cany expressed his belief in the outcome of the implementation of the EVFTA in the coming time and affirmed that EU businesses will actively promote the ratification of the EVIPA.

The EU has become the fifth largest trading partner and the third largest export market of Viet Nam while the Southeast Asian nation is the EU's largest trading partner in ASEAN. 

The EVFTA is an important driving force for two-way trade between Viet Nam and the EU to continuously increase.

Last year, two-way trade between Viet Nam and the EU valued US$ 62.4 billion, representing a year-on-year increase of 9.8 percent./.