A conference gathering commercial counselors and head of trade offices of Vietnam in Europe took place in Moscow, Russia on June 11.

At the conference (Source: VNA)

Participants to the event discussed forecast of economic and trade situation in Europe and impacts on Vietnam, and gave recommendations on strategies and measures to develop markets for Vietnamese goods in the region in the 2019-2020 period. 

They also debated how to improve market study work, and the building of new mechanisms for economic, trade and industry cooperation between Vietnam and European countries to meet the demand of Vietnam’s economic development. 

The event also focused on ways to remove trade barriers and enhance trade promotion to help Vietnamese enterprises. 

Addressing the event, head of the Party Central Committee's Economic Commission Nguyen Van Binh praised the work of Vietnamese trade offices in Europe, which is a strategic market of Vietnam’s exports and also a priority cooperative partner of Vietnam in all aspects. 

He stressed that as Vietnam has joined new-generation free trade agreements (FTA) with European nations, the Ministry of Industry and Trade and the network of trade offices have a new important task of studying and proposing policies and cooperation frameworks to tap opportunities brought about by the integration process. 

He also underlined the need for the Ministry of Industry and Trade (MoIT) and trade offices to look for ways to promote Vietnam’s participation in regional and global value chains, and form new value chains. 

Deputy Minister of the MoIT Hoang Quoc Vuong asked commercial counselors and heads of trade offices in Europe to pay more attention to assisting exporters and actively responding to trade protection measures targeting Vietnamese exports. 

According to the MoIT, Vietnam’s export to Europe continues to be expanded, with export turnover in 2018 hitting over 62 billion USD, up 11.85 percent. Notably, Vietnam’s export to member countries of the Eurasian Economic Union (EAEU) has recorded a strong growth of 12 percent in 2018 after the FTA between Vietnam and the union took effect in 2016.