Thursday, November 14, 2019 6:53:19 PM - Markets open
VN-INDEX 1,012.30 -0.47/-0.05%
HNX-INDEX 106.24 -0.96/-0.89%
UPCOM-INDEX 56.71 -0.11/-0.19%
Dialogue spotlights EU-Vietnam free trade, investment protection pacts
VietnamPlus - 7/2/2019 1:33:08 PM
 (0 ratings. You must sign in to rate.)
A dialogue took place in Hanoi on July 1 to discuss opportunities for Vietnamese enterprises resulted from the just-signed EU – Vietnam Free Trade Agreement (EVFTA) and Investment Protection Agreement (EVIPA).
 
Speaking at the event, Minister of Industry and Trade Tran Tuan Anh said the EVFTA not only helps Vietnam expand market and increase export value of its products, but also draws a new wave of EU investment to the country. It will also facilitate the sides to form their new value chains, he added.
 
The official noted the EVIPA supports Vietnam in consolidating its international position as a responsible country in the development of globalisation toward trade liberalisation and facilitation.
 
When the two pacts take effect, they are expected to help Vietnam complete its legal framework and institution and improve the local business climate. As a result, European investors will have better conditions to engage in the development of Vietnam’s food processing, high-tech, and auto industries, among others. Vietnam will also become a magnet to EU capital and a connecting point for the bloc’s trade-investment activities in the ASEAN region.
 
European Commissioner for Trade Cecilia Malmstrom affirmed the EU wants to soon obtain the approval of the European Parliament to carry out the agreements.
 
She said negotiators open opportunities from these pacts and businessmen and people are direct participants that will create products, investments, and jobs for prosperity and sustainable growth.
 
Echoing the view, Chairman of the European Chamber of Commerce in Vietnam (EuroCham) Nicolas Audier said that the pacts bring about both opportunities and challenges, and that enterprises play a key role in translating these opportunities into practical projects.
 
Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc said the two agreements are the best among those Vietnam has joined to date in terms of liberalizing trade and ensuring environment and labour protection standards.
 
Challenges to local enterprises are large as most of them are small- and medium-sized ones, he added.
 
According to a VCCI survey, 70 percent of Vietnamese companies asked said they have yet to gain information on or pay attention to the EVFTA.
 
Loc said the VCCI and EuroCham have basically agreed to design a joint action programme, establish a joint EU – Vietnam business council, and hold an annual EU – Vietnam enterprises’ forum to connect the two business communities and make recommendations on bilateral cooperation to the governments of Vietnam and EU member nations. 
 
The EVFTA and EVIPA were officially signed in Hanoi on June 30 afternoon, in the witness of Prime Minister Nguyen Xuan Phuc, Vietnamese National Assembly and Government leaders, and leaders of the EU.-VNA 
 
Read original article here
 
Newer News
13/11 Vietnam urged to promote circular economy
11/11 Vietnam’s exports estimated at 217.05 bln USD in 10 months
09/11 Livestock exports expected to fetch US$1.2 billion this year
07/11 Vietnam’s export tunover surges 7.4 percent in 10 months
03/11 Vietnamese telcos target 5G chipsets and devices
02/11 US forecasts bright outlook for trade with Việt Nam
02/11 EVFTA must bring benefits to people: INTA chief
29/10 Anti-dumping duties on steel products extended for 5 more years
26/10 VN needs foreign aid to develop renewable energy
25/10 VN needs foreign aid to develop renewable energy
Older News
01/07 More chances for stronger Vietnam-Canada investment ties
30/06 CPTPP gives Vietnamese firms a chance to invest in Canada
28/06 Tra fish exports to EU to surge in 2019
26/06 Exports reach over 10 billion USD in first half of June
24/06 Vietnam, EU partnership prospects bright: German experts
23/06 VN exports should target West Asia: conference
21/06 Deputy PM updates RoK investors on Vietnam’s policies
19/06 Vietnam’s rubber exports drop in May
18/06 Philippine company eyes investment in Vietnam’s tea industry
17/06 Growing Chinese investment in Việt Nam: time to worry?
 
Newsletter Signup
Top Stories
Reference exchange rate unchanged on November 13
VN-Index slides for second day
Reference exchange rate reverses downward trend on October 23
Prices of Grade A office space rise due to low supply
VN stocks to beat 1,000 points in Q4
Market Update
Last updated at 3:10:00 PM
VN-INDEX 1,012.30 -0.47/-0.05%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.