Vietnamese, Dutch businesses urged to optimise EVFTA

Minister of Industry and Trade Tran Tuan Anh on January 14 urged Vietnamese and Dutch businesses to seek more investment opportunities and bring into full play the EU-Vietnam Free Trade Agreement (EVFTA).
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Minister of Industry and Trade Tran Tuan Anh on January 14 held a virtual meeting with Dutch Minister for Foreign Trade and Development Cooperation Sigrid Kaag and CEOs of 13 major Dutch firms. Photo: Ministry of Industry and Trade

During a virtual meeting with Dutch Minister for Foreign Trade and Development Cooperation Sigrid Kaag and CEOs of 13 major Dutch firms, Anh highlighted the Dutch government and businesses’ interest in trade, industry and energy collaboration with Vietnam.

He cleared up concern of the participating enterprises, while touching upon the enforcement of the EVFTA, covering taxation, intellectual property, service trade and Government procurement.

The minister also mentioned what Vietnam can do to help Dutch investors turn Vietnam into a production and consumption hub in the Association of Southeast Asian Nations (ASEAN).

Vietnam has been a reliable destination for Dutch investors, urging the business communities of the two countries to work harder to seek new business and investment opportunities and optimize the benefits brought about by the EVFTA.

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Minister of Industry and Trade Tran Tuan Anh on January 14 held a virtual meeting with Dutch Minister for Foreign Trade and Development Cooperation Sigrid Kaag and CEOs of 13 major Dutch firms. Photo: Ministry of Industry and Trade

For her part, the Dutch minister affirmed that Vietnam is always a leading partner of the Netherlands in Asia.

The two countries have partnered in various spheres over the past time, notably industry, clean and renewable energy, circular economy and low-emission production towards sustainable development, she said.

The EVFTA has opened up huge opportunities for both Vietnamese and Dutch firms, she said, stressing that it is time for the two sides to deepen their cooperation.

The two ministers pledged to create favourable conditions for businesses to make full use of opportunities generated by the EVFTA.

At the meeting, Ingrid Thijssen, chair of the Confederation of Netherlands Industry and Employers, said Dutch businesses are willing to pour more investments in Vietnam – their strategic market in Asia.

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Workers make garment products in a factory in Tan Binh District, Ho Chi Minh City. Photo: VnExpress

Statistics unveiled by the Ministry of Industry and Trade show that the Netherlands is Vietnam’s biggest EU importer and investor, with bilateral trade growing 11.78 percent in the past five years.

Despite the impact of the COVID-19 pandemic, Vietnam’s exports to the Netherlands in the January-November period last year still rose 0.22 percent year on year to 6.26 billion USD.

Its imports from the European country in the period decreased by 4.13 percent to 582.4 million USD.

As of the end of November 2020, Dutch investment in Vietnam totalled 10.4 billion USD in 375 projects.

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