Many big European businesses revealed its expansion plan in Vietnam, showing that Vietnam plays a crucial part in their production and consumption markets.
The European Chamber of Commerce (EuroCham) and the Vietnam Chamber of Commerce and Industry (VCCI) has established a new bilateral forum to support the smooth and successful implementation of the EU - Vietnam free trade agreement (EVFTA).
Though it has been a difficult year so far, effective Covid-19 containment and the recently ratified EU Vietnam Free Trade Agreement (EVFTA) has bolstered global industrial investor confidence in Vietnam. The property segment most resilient to Covid-19 has further significant growth potential.
The ASEAN Hong Kong Free Trade Agreement (AHKFTA) coming into force on June 11 for Singapore, Thailand, Vietnam, Laos and Myanmar can now further promote global trade liberalisation as it adds wings to trade among ASEAN nations, according to HSBC.
To ensure smooth and efficient operation of the EU-Vietnam Free Trade Agreement (EVFTA) after the two sides finished the legal review process, both are actively resolving the final stages of this agreement which is expected to be signed by the end of this year.
There remains a big challenge of intellectual property ahead to be resolved although brilliant sides of to-be-ratified EU Vietnam free trade agreement are miracle growth of mutual ex-import revenue and rising number of foreign companies in due to removal of hurdles.
The EU - Vietnam Free Trade Agreement (EVFTA) endows Vietnam with comparative advantages no other country in the region excepting Singapore has.
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According to European Chamber of Commerce in Vietnam (EuroCham), Vietnam should conduct appropriate solutions to cut costs and administrative workload for automotive enterprises, aligning with the target of administrative reform in Vietnam as well as the objectives and principles of the EU - Vietnam Free Trade Agreement (EVFTA).
Vietnam addressing obstacles related to legal issues and business environment will be the positive signs in the preparation and implementation of the EU-Vietnam Free Trade Agreement (EVFTA).
During the visit to Belgium and the European Union, Deputy Prime Minister Vuong Dinh Hue and Vice President of European Commission Jyrki Kaitanen unanimously push for final procedures to approve and ratify the Vietnam - EU Free Trade Agreement.
