Vietnam’s Exports Increase 11% After 12 Months of EVFTA Implementation
Alain Cany, President of the European Chamber of Commerce in Vietnam (EuroCham), said that even amid the pandemic, Vietnam’s exports to the European market still increased by 11% in the first 12 months of implementation. EVFTA Free Trade Agreement.
On November 25, the Ministry of Foreign Affairs coordinated with EuroCham to organize the Conference “Meet Europe 2021: Vietnam – EU Partnership after Covid-19”.
Speaking at the opening of the Conference, Governor of the State Bank of Vietnam Nguyen Thi Hong emphasized that the EU is one of the leading partners in development cooperation, the 5th largest trading partner and the 6th largest investor. of Vietnam.
The Governor affirmed that an important milestone in economic cooperation between the two countries and opening great opportunities for businesses of the two sides is the EVFTA Free Trade Agreement, effective from August 1, 2020.
Despite the difficulties caused by the pandemic, the two-way trade turnover between Vietnam and the EU continued to grow by nearly 20% compared to the same period last year. In 2020 alone, it will set more than 56 billion USD.
Governor of the State Bank of Vietnam Nguyen Thi Hong believes that the Investment Protection Agreement between Vietnam and the European Union, when approved, will further deepen the efficiency of economic and investment cooperation between the two sides. .
Ms. Hong said that the Vietnamese government will continue to create all conditions for EuroCham and its members to invest in the fields that Vietnam is giving priority and special incentives to, such as high technology, information technology, and technology. supporting industries, smart agriculture, environmental protection, renewable energy, building infrastructure and projects for social security, training high-quality human resources, applying management science advanced, efficient logic; promote research – development, innovation.
Speaking at the Conference, EuroCham President Alain Cany emphasized that it is important for the two sides to focus on the future of EU-Vietnam trade and investment; European countries and Vietnam need to make the most of the EVFTA Free Trade Agreement, effective from 2020.
Even amid the pandemic, Vietnam’s exports to the European market increased 11% in the first 12 months of implementation. Mr. Alain Cany hoped that Vietnam – EU trade would recover quickly after the pandemic and move towards a brighter and more prosperous future.
However, many export industries focus on Food, Fisheries and Textile and hope that industry and supporting industries will soon see positive changes.
According to Fireant