August 06, 2019

EU–Vietnam Trade Forum: EVFTA – New Horizon for Extensive and Comprehensive Cooperation

On the 30th of July, following a joint action plan to promote the recently signed EU-Vietnam Free Trade Agreement (EVFTA) and EU-Vietnam Investment Protection Agreement (EVIPA), the Ministry of Industry and Trade (MOIT) and the EU Delegation to Vietnam, in collaboration with EuroCham, have organised the very first Vietnam–EU Trade Forum with the theme: “The EVFTA: New Horizon for Extensive and Comprehensive Cooperation” in Ho Chi Minh City. This Forum aimed to equip the business community with updated information related to the status of the recently signed EVFTA, its impact on the trade relationship between Vietnam and the EU, and how both Vietnamese and European businesses should prepare themselves for utilising the unprecedented benefits of this historic agreement.

The Forum was a huge success with the active participation of over 300 delegates from the Government, European businesses, Vietnamese businesses, associations, and southern localities. From EuroCham, Vice-Chairmen Jean-Jacques Bouflet and Nguyen Hai Minh and corporate members led a delegation of more than 165 EuroCham representatives from affiliated chambers and member companies. These members actively participated in an intensive agenda as main speakers during the plenary session and two panel discussions.

(Photo source: thuongtruong.com.vn)

Vice-Minister of Industry and Trade Hoang Quoc Vuong affirmed that the recently signed EVFTA and EVIPA will open a new horizon for enhancing the bilateral cooperation, trade and investment relationship between the EU and Vietnam, which has already been flourishing over the past 30 years. The Vice-Minister said that the EVFTA and EVIPA, once implemented, will strengthen the position of the EU as one of the biggest trade and investment partners of Vietnam. The two comprehensive agreements will facilitate the market access for a wide range of products and services from both Vietnam and the EU, and create a huge incentive for further investment from Europe to Vietnam.

In the plenary session, EuroCham’s Vice-Chairman Jean-Jacques Bouflet delivered a presentation entitled “The Free Trade Agreement: Business Perspectives on Exports and Bilateral Cooperation Opportunities”. Mr. Bouflet emphasised that, with the trend of European enterprises working with local partners for manufacturing in Vietnam, there would be a wide range of opportunities for Vietnamese enterprises to upgrade their capability in terms of technology, governance and standards. The EuroCham Vice-Chairman also shared prospects and requirements for ratification of the EVFTA and EVIPA, as well as expected changes in certain sectors once they comes into effect. Accordingly, the trade deal will open market access for both sides; reduce and eliminate tariffs; remove non-tariff barriers; better protect foreign direct investment intellectual property rights. EuroCham, as one of the biggest chambers in the country, representing the voice of the European business community in Vietnam, will continue with various activities to support the ratification and implementation of the EVFTA.
The plenary session also included informative presentations from the EU Delegation to Vietnam on opportunities of the EVFTA for EU businesses, recommendations and commercial support from the EU to Vietnam. Representatives from the Multilateral Trade Policy Department, Foreign Trade Agency under Ministry of Industry and Trade, also discussed the opportunities and challenges of the EVFTA for Vietnamese enterprises, especially the rules of origin as the key of the tariff reduction. EuroCham member Robert Bosch Engineering and Business Solutions also delivered a presentation on innovative business thinking of breakthrough opportunities that EVFTA provides.

In the next session, EuroCham Vice-Chairman Nguyen Hai Minh joined a panel discussion themed “Opportunities for Sectors of Textiles, Garments, Footwear, Bags, Purses, Suitcases and Hats”. The panel was moderated by Mr. Tran Ngoc Quan, Deputy Director of the Ministry of Industry and Trade's Department of European–American Markets. Taking into account the complementarity between the EU and Vietnamese capabilities as well as Vietnam’s strategic location in Asia, Mr. Nguyen Hai Minh affirmed that EVFTA will open opportunities to promote EU-Vietnam value chain integration by increasing the EU’s direct investment and the rise of trade in intermediate goods and services between the EU and Vietnam. However, Vietnamese enterprises must also be ready for tough challenges, namely limits in technology, capital, human resource, and corporate governance. The EuroCham Vice-Chairman emphasised that Vietnamese enterprises need to be more active and speed up the enhancing of their capacity and competiveness. Also, with a high potential but at the same time very strict market like the EU, Vietnamese enterprises need to ensure their compliance with the rules of origin requirements, to set a long-term vision instead of only focusing on immediate benefits of tariffs cutting.

In the parallel panel discussion, Mr. Vincent Gothknecht, representative of EuroCham member I. Schroeder KG Vietnam, participated in the discussion themed “Opportunities for Agro Products” moderated by Mr. Ta Hoang Linh, Director of the Ministry of Industry and Trade's Department of European–American Markets. Mr. Gothknecht discussed European requirements for agro products exported by Vietnam and the challenges when the free trade deal takes effect. Joining a global market place with various global competitors, Vietnam needs to adjust to meet the EU’s specific requirements in specification and social compliance. The EuroCham speaker affirmed that EU partners are willing to support Vietnam to step up and reap the benefits of the trade deal.

Media coverage

Event Photo album

More News

See all

September 29, 2023

Green growth takes center stage at Vietnam Green Building Week

Read more

September 29, 2023

[CORPORATE SUPPORT] BASF Vietnam and partners rebuild seventh school for 100 students

Read more

September 29, 2023

EuroCham attends discussions on the draft decree pertaining to the 2023 Tendering Law

Read more

September 29, 2023

EuroCham unveils upcoming Green Economy Forum (GEF) 2023 at Hanoi press conference

Read more

September 29, 2023

[CORPORATE SUPPORT] Nestlé ranks first in coffee sustainability

Read more

September 28, 2023

Empowering Vietnam’s agricultural sector: EuroCham attends seminar on innovation for export competitiveness in agriculture

Read more

September 28, 2023

EuroCham Transportation and Logistics Sector Committee Meets with Ba Ria-Vung Tau Customs

Read more

September 22, 2023

EuroCham Vietnam attended National Assembly’s Vietnam Socio-Economic Forum 2023: Reinforcing Internal Capacity for Sustainable Growth

Read more

September 22, 2023

EuroCham Medical Devices and Diagnostics Sector Committee (MDDSC) joined ASEAN Common Submission Dossier Template Workshop

Read more

September 22, 2023

EuroCham’s collaborative meetings with the EU Ambassador-Designate Julien Guerrier

Read more

September 22, 2023

EuroCham Vietnam extended a warm welcome to French Ambassador to Vietnam H.E .Olivier Brochet

Read more

September 22, 2023

EuroCham Vietnam joined a launch of the “Circular Economy & Pioneering Models” book

Read more

September 21, 2023

EuroCham Vietnam hosts an exclusive evening to welcome EU Ambassador-Designate to Vietnam

Read more

September 15, 2023

EuroCham engages in a productive dialogue with the Administrative Procedures Control Agency and Reform (ACAPR)

Read more

September 15, 2023

A resounding success: Vietnam International Sourcing Expo 2023 and the EU-VN Trade Forum

Read more

September 15, 2023

[Event recap] EuroCham Women in Business Sector Committee hosted successful Roundtable on Gender Pay gap with Fulbright Professor Graeme Walker

Read more

September 15, 2023

[Sector Committee spotlight] Food, Agri and Aqua Business Sector Committee (FAABS)

Read more

September 14, 2023

Ho Chi Minh City Economic Forum 2023 and the 100 CEOs -Tea Connect spotlight green growth and net zero initiatives

Read more

September 12, 2023

EuroCham Vietnam engages in key talks with Luxembourg delegation to bolster EU-Vietnam economic relations

Read more

September 08, 2023

EuroCham participates in an inaugural meeting of Government Taskforce on Administrative Reforms (APR)

Read more

September 08, 2023

[CORPORATE] First Bayer ForwardFarm of Southeast Asia launched in Vietnam

Read more

September 08, 2023

EuroCham contributes to a critical discussion on attracting foreign investment in high-technology and promoting technology transfer

Read more

September 07, 2023

EuroCham Food, Agri, and Aqua Business Sector Committee (FAABS) explores sustainable aquaculture solutions at Skretting Factory in Long An

Read more

August 31, 2023

EuroCham delegation visits Bac Giang to discuss EU-Vietnam business trends

Read more

August 25, 2023

EuroCham Green Growth Sector Committee spotlights blue-green infrastructure solutions

Read more

August 25, 2023

EuroCham Vietnam engages authorities and state-owned enterprises to drive green growth and spotlight GEF 2023

Read more

August 25, 2023

[SUPPORTED EVENT] Nestlé Vietnam – Innovation and sustainability bring competitive advantages in business

Read more

August 25, 2023

[Sector Committee spotlight] Legal Sector Committee (LSC)

Read more

August 24, 2023

EuroCham’s Tourism and Hospitality Sector Committee visits Binh Thuan to explore tourism promotion collaboration

Read more

August 24, 2023

[Event recap][Business Luncheon] Mid-year review and Forecast for the second half of the year On the Vietnamese Economy

Read more

Pour une expérience optimale, veuillez tenir votre mobile à la verticale !

Platinum Partners

Gold Premium Partners

Gold Partners

Silver Partners

Premium Service Partners