August 07, 2020

EuroCham Speaks at the Video Conference: “Implementing the Action Plan of the EU-Vietnam Free Trade Agreement”

On the 6th of August 2020 in Hanoi, Prime Minister Nguyen Xuan Phuc presided over a video conference on the action plan to implement the EU-Vietnam Free Trade Agreement (EVFTA) which took effect on the 1st of August. Attendants to the event included the Deputy Prime Minister, Foreign Minister, several Cabinet Ministers and leaders of all 63 provinces and cities, as well as Vietnamese business associations’ leaders, and heads of diplomatic missions from EU member states.
    

Prime Minister Nguyen Xuan Phuc

     
Delegates at the video conference discussed a wide range of major issues related to the EVFTA, including: communication of international economic integration in general and the FTA in particular, solutions to effectively take advantage of the agreement’s commitments, human resource and infrastructure development, and finding solutions for efficient investment.
    

Video conference on the EVFTA implementation dated 6th of August, chaired by Prime Minister
(Source: Vietnam Government Portal)
    

EuroCham was the only foreign association to attend and deliver a speech at the conference. On behalf of the Executive Committee of EuroCham and its one-thousand members, Vice Chairman Jean-Jacques Bouflet congratulated the Government of Vietnam on securing this historic free trade agreement with the European Union. The EVFTA is just the second FTA agreed between the EU and an ASEAN country, and it is also the most comprehensive and ambitious deal ever signed by EU with a developing nation. Therefore, it is clear that this EVFTA is a vote of confidence from the European Union in Vietnam, its record of reform, and its strategic importance on the world stage.
   

EuroCham Vice Chairmen Nguyen Hai Minh and Jean-Jacques Bouflet proudly present to Prime Minister H.E. Nguyen Xuan Phuc the latest edition of the Whitebook
   

“EuroCham will dedicate itself to ensuring a smooth and effective implementation of the FTA, working with the Government, particularly MOIT and other Ministries, as well as the EU Delegation and EU member states’ embassies, utilizing the full resources of the Chamber, its 1000 members and 17 Sector Committees. Furthermore, EuroCham will reach out to partner organisations like the Vietnam Chamber of Commerce and Industry (VCCI) to create the EU-Vietnam Business Council, providing a platform to discuss common issues and a tool with which to resolve them, as well as to connect the business community of both sides”, said the Vice Chairman.
  

Vice-Chairman Jean-Jacques Bouflet speaking at the event on behalf of EuroCham
   

While Vietnam has made huge strides in streamlining and modernizing its legal framework and investment environment, further reforms could help to attract more foreign direct investment from Europe and encourage new enterprises to take advantage of the gradual reduction in tariffs. EuroCham will continue to share the insights and recommendations of its Sector Committees regarding administrative reform in light of the EVFTA. “In conclusion, EuroCham remains at the disposal of Vietnam – it’s Government, Ministries, and provincial authorities – to help make the EVFTA a success, for the benefit of both sides’ companies, citizens, and socities”, said Mr. Bouflet.
   
Speaking at the conference, Minister of Industry and Trade, H.E. Tran Tuan Anh, stressed that in order to help businesses take full advantage of the opportunities that EVFTA brings, it is necessary to remove barriers to manufacturing and business activities of enterprises through administrative reforms, policies with the motto of creating the most favorable conditions for businesses, promoting transparency and fairness, without discrimination between economic sectors.
   

Minister of Industry and Trade Tran Tuan Anh
   
It is worth noting that the EU has an auxiliary import and export structure for Vietnam and, therefore, does not directly compete with domestic goods. Therefore, the goods that the EU has advantages when imported into the Vietnamese market, such as machinery, equipment, etc., will help support the domestic industry to reduce costs and improve production capacity.
 
At the meeting, other business associations’ representatives in various fields, including textile and garment, leather and footwear, seafood, and e-commerce also shared their insights and issues of each sector and provided recommendations for the Government to address them and reap the full benefits of the EVFTA. Meanwhile, Dr. Vu Tien Loc, Chairman of VCCI stated that integration in general and the EVFTA in particular can only be successful if the small and medium-sized enterprises become the main actors and benefit from this process. Dr. Loc suggested that enterprises consider changing business models, upgrading governance system towards global standards in terms of not only technology but also human resources in order to ensure sustainable development. The VCCI Chairman also reiterated that, in light of the EVFTA’s implementation, the EU-Vietnam Business Council launched by VCCI and EuroCham in the coming weeks is expected to provide effective tools to support the business communities of both Vietnam and EU.
 
Later, the Vice Chairman of the Ho Chi Minh City People’s Committee, Mr. Duong Tan Hien, shared that the city will organize training courses on the EVFTA for officials according to each industry, and closely update specific job requirements to provide practical support to businesses. Recently, on the 28th of July, the City’s leaders and EuroCham co-organised a Dialogue to disseminate information about the EVFTA and discuss difficulties and solutions for businesses in terms of the implementation process.
  

In his closing remarks, the Prime Minister said the EVFTA is expected to contribute 3.25 per cent to Vietnam’s economic growth in the first five years, an additional five per cent in the next five years, and seven per cent more for the 5 subsequent years. A Government action plan to implement the trade deal has been promulgated, focusing on five major tasks. They are communications and information dissemination, law and institution building, measures to improve competitiveness and develop human resources, the policies for trade unions and workers' organizations at enterprises, and policies on welfare, environmental protection and sustainable development.
 
Media coverage: CLICK HERE

More News

See all

March 23, 2023

[CORPORATE] Earn double Miles when you fly with Air France or KLM

Read more

March 20, 2023

EuroCham’s Highlights in 2022

Read more

March 20, 2023

[AGM 2023] Meet EuroCham’s 2023 Board of Directors

Read more

March 05, 2023

EuroCham Shared Our Views on Boosting Vietnam’s Business and Tourism on VTV4

Read more

March 02, 2023

Vietnam Business Forum (VBF) 2023 Scheduled for March 17, 19 – Register Now!

Read more

March 02, 2023

Food, Agri and Aqua Business Sector Committee (FAABS) Elected its 2023 Board

Read more

February 27, 2023

[CORPORATE]Vietjet opens new flight routes Ho Chi Minh City – Sydney; Ho Chi Minh City – Melbourne only 0VND

Read more

February 23, 2023

EuroCham and HAWA Sign MOU at HawaExpo 2023 to Boost Industry Cooperation and Trade Activities

Read more

February 22, 2023

[Work @ EuroCham] Sector Committee Coordinator

Read more

February 22, 2023

EuroCham Spoke at a Meeting Between HCMC’s Leaders and Foreign Business Associations

Read more

February 21, 2023

[CORPORATE] Discover the EIS Educational Village – Open Day 25th March 2023

Read more

February 21, 2023

[CORPORATE] EMS Vietnam – Vietnam Post’s High quality International Express Service

Read more

February 21, 2023

EuroCham Vietnam and DOLISA Met to Discuss Work Permit Process Difficulties in HCMC

Read more

February 20, 2023

Vice-Chair Claudia Anselmi Shared Perspectives at Human Rights Due Diligence (HRDD) Forum

Read more

February 13, 2023

[Work @ EuroCham] Head of Office Hanoi cum External Relations Manager

Read more

February 09, 2023

EuroCham Will Unveil Our 2022/2023 Whitebook and GEFE 2022 Report on Feb. 16

Read more

February 06, 2023

Chairman Alain Cany Sat Down for an Interview with Forbes Vietnam

Read more

January 30, 2023

Deutsches Haus Ho Chi Minh City Ushered in the New Year with a Lion Dance

Read more

January 19, 2023

The European Business Organization Worldwide Network’s (EBO WWN) Southeast Asian Network Kicked Off Its First Meeting of 2023

Read more

January 16, 2023

Q4 2022 Business Climate Index Results Released

Read more

October 05, 2022

EuroCham’s GEFE 2022 Press Conference in Hanoi

Read more

September 20, 2022

EuroCham Met with Prime Minister Pham Minh Chinh three times last week

Read more

August 24, 2022

EuroCham and its Nine Affiliated European BAs Held the “GEFE and You – How You Can Get Involved” Webinar

Read more

August 17, 2022

Restricted content

Read more

August 11, 2022

[Corporate] EMS International Services to Japan, Korea, Taiwan with extremely preferential rates in July and August 2022

Read more

August 05, 2022

EuroCham attended program on “Connecting the suppliers in the Mekong Delta of Vietnam with distributors, exporting businesses and trade promotion organizations”

Read more

August 01, 2022

EuroCham attended the Workshop "Evaluation Framework for Business regulation reforms and Data Analysis solutions"

Read more

July 28, 2022

[Corporate] BASF Q2 2022: BASF again with strong earnings despite continued high prices for raw materials and energy

Read more

July 08, 2022

Digital Sector Committee – Newsletter Issue No.3 / 2022

Read more

July 01, 2022

[BCI Q2 2022] European Business Stakeholders’ Confidence in Vietnam’s Business Environment Declined Slightly Following Global Economic Uncertainty

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