November 28, 2020 12:12 | About us
Language: Tiếng Việt | ພາ​ສາ​ລາວ | ខ្មែរ | русский | 中文

Vietnam and France businesses exchange trade and investment opportunities from EVFTA

July 10, 2020 | 08:19

On July 8, a webinar on trade and investment opportunities brought by the EU-Vietnam Free Trade Agreement (EVFTA) for Vietnamese and French businesses took place.

vietnams road to push rice export to eu under evfta Vietnam's road to push rice export to EU under EVFTA
evfta agreement take off the rose tinted glasses EVFTA Agreement: Take off the rose-tinted glasses
vietnamese government holds dialogue with european business community on evfta opportunities Vietnamese Government holds dialogue with European business community on EVFTA opportunities
5008 france trade investment
A webinar on EVFTA opportunities between Vietnam and France was held on July 8 (Photo: VNA)

On July 8, the first online seminar on EU-Vietnam Free Trade Agreement (EVFTA) and EU-Vietnam Investment Protection Agreement (EVIPA) took place under the cooperation between the Ministry of Industry and Trade and the French Embassy, according to VTV.

As the EVFTA is due to take effect on August 1, the workshop aims at providing French businesses with information on Vietnam's trade and investment policies and helping them access the market with nearly 100 million people.

At the webinar, there were Minister of Industry and Trade Tran Tuan Anh, French Ambassador to Vietnam Mr. Nicolas Warnery, Representative of French Trade and Investment Agency in Vietnam and other relevant Departments of the Ministry of Industry and Trade.

In addition, the Head of the European Ministry and French Foreign Affairs, Mr. Francois Delattre, President of the French Trade and Investment Agency, Mr. Christophe Lecourtier attended the webinar. Over 400 key French businesses and 100 Vietnamese businesses also participated in the event, reported by Securities News.

5046 vietnam and france trade investment
At the webinar (Photo: Securities News)

At the webinar, Minister of Industry and Trade Tran Tuan Anh noted that Vietnam - France trade and investment ties have enjoyed favorable conditions after 50 years of diplomatic relations and seven years of the strategic partnership.

France is among the leading partners of Vietnam, as the fourth largest export market of the Southeast Asian country. The Vietnam - France trade and investment ties will turn over a new promising page to overcome challenges after the EVFTA takes effect, he added.

"After the EVFTA comes into effect, we look forward to finding more partners in Vietnam. Currently, the most potential areas of France are consumer products, food, health care, and cosmetics", said Mr. Nicolas Warnery, French Ambassador to Vietnam.

Minister of Industry and Trade Tran Tuan Anh also said that after the EVFTA comes into effect, Vietnam will eliminate import duties of 98.3% of tariffs, with a maximum schedule of 20 years and the EU will eliminate import duties of 99.2% of tariffs, with a maximum of 7 years.

The elimination of tariffs will promote trade between Vietnam and the EU, further expand the market, especially for products such as tropical agricultural products, seafood, footwear, textiles, furniture of Vietnam, and automotive, pharmaceutical, alcohol, food from the EU and France.

5150 vietnam and france trade investment evfta
Mr. Nicolas Warnery, French Ambassador to Vietnam (Photo: National Assembly)

Vietnam will also become an attractive destination for EU investors in general and France in particular. The EVFTA is even more effective when Vietnam has controlled the Covid-19 pandemic, and Vietnam is forecasted to grow positively by the World Bank despite the pandemic.

However, he noted that besides the advantages, Vietnam and France also face challenges coming from trade conflicts around the world, increasing protection in some countries, and the Covid-19 epidemic.

Minister Tran Tuan Anh affirmed his wish to develop cooperation with French partners in such industries as clean energy, renewable energy, high technology, agriculture, and manufacturing. Vietnam will create the most favorable conditions in terms of investment, business, infrastructure, and industrial parks to encourage French businesses to cooperate with Vietnam.

Statistics showed that Vietnam and France trade tripled to USD 5.3 billion in 2019 from roughly USD 1.6 billion 10 years ago, turning France into the third largest trade partner of Vietnam in Europe, only after Germany and the Netherlands.

As of May 2020, France invested in 588 projects in Vietnam, with a total capital of USD 3.56 billion, ranking second among the European investors in Vietnam.

In the first five months of the year, export-import value of Vietnam and France fell 18.66% year-on-year to USD 1.77 billion due to the Covid-19. Vietnam shipped USD 1.2 billion of goods to France during the period, informed VOV.

26 people arrested in france and belgium over vietnamese migrants lorry deaths 26 people arrested in France and Belgium over Vietnamese migrants lorry deaths

Police in France and Belgium have arrested 26 people suspected of human trafficking in the deaths of 39 Vietnamese migrants. There are 13 people arrested in ...

hanoi presents 200000 face masks to french localities Hanoi presents 200,000 face masks to French localities

Hanoi on May 18 handed over 200,000 face masks to the Embassy of France to support people in Ile-de-France, Toulouse, and Choisy-le-Roi in their fight against COVID-19.

vietnam was supported by eu and france against climate change Vietnam was supported by EU and France against climate change

The European Union and the French Development Agency (AFD) have established a 20-million-euro ($21.5 million) fund to help Vietnam deal with climate change. The EU will provide ...

Candy Lee