Illustrative image (Source: VNA)Brussels (VNA) – The signing of the free trade agreement and the investmentprotection agreement between Vietnam and the European Union (EU) last June hasmarked a new development step in their partnership and comprehensivecooperation, said Vietnamese Deputy Minister of Planning and Investment Vu DaiThang on November 8.
Speakingat the Vietnam-Flanders Business Forum in Belgium, Thang said the deals willcontribute to promoting economic links between the ASEAN Economic Community andthe EU, and spurring the global economy.
TheEU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam InvestmentProtection Agreement (EVIPA) will also help Vietnam attract high-qualityinvestment from the EU, and create favourable conditions for Vietnameseinvestors to access the market, he noted.
Oncecompleted, the agreements, together with efforts and suitable policies of bothsides, will bring about pragmatic benefits to people and businesses of Vietnamand the EU, including those from Belgium.
VietnameseAmbassador to Belgium and Luxemburg, and head of the Vietnamese Delegation tothe EU Vu Anh Quang highlighted the deals’ contributions to stepping upVietnam’s economic reform and integration.
Thanksto the EVFTA and EVIPA, Vietnam will develop its economy in line withprinciples of a market economy, and international and EU laws and regulations,he said.
Theambassador called on Belgian authorities, organisations and businesses to help topush ahead with the ratification of the agreements by the European Parliament.
Theparticipating Belgian firms were updated on opportunities for investment andbusiness cooperation in Vietnam after the deals come into force, and were advisedto prepare resources to optimise these opportunities.
Withinthe framework of the forum, the Vietnamese Ministry of Transport and theFlemish Ministry of Mobility and Public Works signed a letter of intent oncooperation during the 2020-2022 period.
Overthe past 24 years, the Flemish authorities have supported Vietnam in humanresources development in service of such sectors as aviation and inlandwaterway./.
VNA
