President of the European Council Herman Van Rompuy met withrepresentatives of more than 100 European and Vietnamese businesses inHo Chi Minh City on November 2, saying that there are rooms for Vietnamand the European Union (EU) to further their cooperation.
Rompuy said the relationship between the two sides has beendeveloping in both depth and width, cemented by a bilateral cooperationagreement. They have also been negotiating for a free trade agreement(FTA).
He noted that two-way trade increased by 20percent this year, adding that the two sides have also broadened theircooperation in politics and security.
The EU is nowthe second largest importer of Vietnam . The European InvestmentBank has signed an aid agreement worth up to 150 million EUR forenvironment projects in Vietnam .
During themeeting, which took place before Rompuy concluded his Vietnam visit,he suggested that Vietnam should improve its institutions and strivefor a more sustainable and attractive economy in order to lure moreinvestors, especially from the EU.
The countryshould improve its legal framework and pursue more stable directionswhile trying to deal with corruption, added Rompuy.
Regarding the FTA, the European Council President emphasised that itwill pave the way for Vietnamese products to reach 500 million Europeanconsumers.
At the same time, the FTA will give theEU a legal basis for their sustainable investment commitment in theASEAN, he said, adding that the agreement will enable Vietnam to getaccess to a reliable finance and technology source from the Europe,which can help the country progress with sustainable development.-VNA
