The free trade agreement being negotiated between Vietnam and the EU isexpected to encourage businesses to reform and update technology, animportant factor in promoting green growth in the country, according tothe deputy chairman of the HCM City People's Committee.
Tat ThanhCang, speaking at a briefing organised by EuroCham and its Green GrowthSector on June 18 in HCM City, said that Vietnam should target greengrowth to ensure sustainable development.
"In Vietnam, greengrowth mainly includes sustainable production and consumption, reductionof greenhouse gas emissions, greening business activities business viaenvironmentally-friendly advanced technologies, building sustainableinfrastructure, and reforming economic instruments," Cang said.
To achieve the green growth target, however, other goals should be met, he said.
Management agencies, businesses and the public must all be part of the national effort, he added.
He said that challenges exist in implementing green growth, particularly in funding, regulation and education.
A large source of investment capital, for example, is needed for environmentally friendly technologies.
Vietnameseenterprises, most of which are small- and medium-sized companies, donot have sufficient capital for such investment.
Cang suggestedthe Government issue new policies to help SMEs, especially in tax,credit policies and administrative procedures. This would help themaccess loans more easily to update technologies.
He said thatschools, hospitals and residents also need to be better informed aboutenvironmental protection, and suggested that Vietnam learn from othercountries, including the EU.
The EU-Vietnam free trade agreement began three years ago, and has gone through 13 rounds of negotiation.
Speakingat the briefing on June 18, Jana Herceg, Deputy Head of the economicsand trade section at the EU Delegation to Vietnam, said the most recentround of the FTA was held in Brussels.
"We are now hopefully approaching the final stage of these negotiations," she said.
Hercegsaid that Commissioner Cecilia Malmstrom and her Vietnamese counterpartMinister Vu Huy Hoang, who met recently in Kuala Lumpur for theEU-ASEAN Economic Minister Meeting, said negotiations were expected toconclude this summer.
"They are meeting in Brussels next week and we can expect further progress in the discussions," Herceg said.
Agreementhas been reached on tariffs and provisions on trade and sustainabledevelopment, she said. This includes commitments to core InternationalLabour Organisation standards and conventions as well as multilateralenvironmental agreements.
Negotiations, however, continue on aGreen Tech Annex, which is expected to foster trade and investment topromote energy generation from renewable and sustainable non-fossilfuels, according to Herceg.
Under the Green Tech Annex, tariffswould be reduced or removed for products that are relevant for thissector. In addition, all the parties involved would have regulatoryconvergence in the renewable energy sector (solar, wind, biomass),Herceg said.
Trade in the renewable energy sector would bebeneficial to all countries in the FTA, and clear rules would providebetter trade opportunities and instill investor confidence.
Vietnam would be able to profit from the EU's successful experience in developing a renewable energy sector, Herceg said.
"Itis our aim to conclude the Annex, which would contain specific rulesfor the renewable energy sector on non-discriminatory treatment ingeneral (licensing and authorisation procedures), on local content inparticular, and on the use of standards. In addition, we want to fostercooperation in this sector to bring about further regulatoryconvergence," she said.
Eurocham said the FTA would have apositive impact on trade for Vietnam. In 2013, the EU was not only oneof Vietnam's biggest trade partners, with a total value of trade ingoods of 27.6 billion euros, it was also among the biggest investors inVietnam, with 1,810 foreign development investment projects.-VNA
Tat ThanhCang, speaking at a briefing organised by EuroCham and its Green GrowthSector on June 18 in HCM City, said that Vietnam should target greengrowth to ensure sustainable development.
"In Vietnam, greengrowth mainly includes sustainable production and consumption, reductionof greenhouse gas emissions, greening business activities business viaenvironmentally-friendly advanced technologies, building sustainableinfrastructure, and reforming economic instruments," Cang said.
To achieve the green growth target, however, other goals should be met, he said.
Management agencies, businesses and the public must all be part of the national effort, he added.
He said that challenges exist in implementing green growth, particularly in funding, regulation and education.
A large source of investment capital, for example, is needed for environmentally friendly technologies.
Vietnameseenterprises, most of which are small- and medium-sized companies, donot have sufficient capital for such investment.
Cang suggestedthe Government issue new policies to help SMEs, especially in tax,credit policies and administrative procedures. This would help themaccess loans more easily to update technologies.
He said thatschools, hospitals and residents also need to be better informed aboutenvironmental protection, and suggested that Vietnam learn from othercountries, including the EU.
The EU-Vietnam free trade agreement began three years ago, and has gone through 13 rounds of negotiation.
Speakingat the briefing on June 18, Jana Herceg, Deputy Head of the economicsand trade section at the EU Delegation to Vietnam, said the most recentround of the FTA was held in Brussels.
"We are now hopefully approaching the final stage of these negotiations," she said.
Hercegsaid that Commissioner Cecilia Malmstrom and her Vietnamese counterpartMinister Vu Huy Hoang, who met recently in Kuala Lumpur for theEU-ASEAN Economic Minister Meeting, said negotiations were expected toconclude this summer.
"They are meeting in Brussels next week and we can expect further progress in the discussions," Herceg said.
Agreementhas been reached on tariffs and provisions on trade and sustainabledevelopment, she said. This includes commitments to core InternationalLabour Organisation standards and conventions as well as multilateralenvironmental agreements.
Negotiations, however, continue on aGreen Tech Annex, which is expected to foster trade and investment topromote energy generation from renewable and sustainable non-fossilfuels, according to Herceg.
Under the Green Tech Annex, tariffswould be reduced or removed for products that are relevant for thissector. In addition, all the parties involved would have regulatoryconvergence in the renewable energy sector (solar, wind, biomass),Herceg said.
Trade in the renewable energy sector would bebeneficial to all countries in the FTA, and clear rules would providebetter trade opportunities and instill investor confidence.
Vietnam would be able to profit from the EU's successful experience in developing a renewable energy sector, Herceg said.
"Itis our aim to conclude the Annex, which would contain specific rulesfor the renewable energy sector on non-discriminatory treatment ingeneral (licensing and authorisation procedures), on local content inparticular, and on the use of standards. In addition, we want to fostercooperation in this sector to bring about further regulatoryconvergence," she said.
Eurocham said the FTA would have apositive impact on trade for Vietnam. In 2013, the EU was not only oneof Vietnam's biggest trade partners, with a total value of trade ingoods of 27.6 billion euros, it was also among the biggest investors inVietnam, with 1,810 foreign development investment projects.-VNA
