Vietnam is always a leading partner of the Netherlands in Asia, said the Dutch Minister for Foreign Trade and Development Cooperation, Sigrid Kaag, at an online meeting with Vietnamese Minister of Industry and Trade Tran Tuan Anh on January 14.

Minister of Industry and Trade Tran Tuan Anh chairs online meeting with Dutch Minister
for Foreign Trade and Development Cooperation, Sigrid Kaag on Jan. 14.
(Photo: VNA)

The minister, who attended the meeting with the CEOs of 13 major Dutch companies, said the EVFTA is expected to open up big opportunities for businesses of the two countries and now is a suitable time for the two sides to deepen their cooperation.

She noted that the two countries have worked closely together in various fields, particularly industry, clean energy, renewable energy, circular economy and emissions reduction towards sustainable development.

Minister Tuan Anh welcomed the Dutch government and businesses’ interest in collaboration with Vietnam in trade, industry and energy.

He took the occasion to explain issues of interests of each participating Dutch business and clarify contents related to the enforcement of the EVFTA including taxation, intellectual property, trade in services and Government procurement. He also made clear what Vietnam can do to help Dutch investors implement a strategy to turn Vietnam into a production and consumption hub in the ASEAN.  

The minister emphasized that Vietnam has been, and is still a reliable destination for Dutch investors, urging the business communities of the two countries to work harder to seek new business and investment opportunities and optimize the benefits brought about by the EVFTA.

Speaking on behalf of the participating Dutch businesses, Ingrid Thijssen, chair of the Confederation of Netherlands Industry and Employers, said Vietnam is a strategic market in Asia for Dutch businesses, which are willing to invest more in the country.

Concluding the meeting, the two ministers affirmed that they will create favourable conditions for the two countries’ businesses to make full use of opportunities brought about by the EVFTA.

Statistics of the Ministry of Industry and Trade show the Netherlands is the biggest export market in the EU for Vietnamese goods, and also the biggest EU investor in Vietnam.

Bilateral trade has been growing at an average 11.78% a year in the past five years. In 2020, despite the impact of the COVID-19 pandemic, Vietnam’s exports to the Netherlands in the January-November period still rose 0.22% year on year to US$6.26 billion. Its imports from the European country in the period decreased by 4.13% to US$582.4 million.

As of the end of November 2020, total Dutch investment in Vietnam reached US$10.4 billion in 375 projects.