Vietnam is likely to emerge as one of the top 10 trading partners of the European Union following the enforcement of the EU-Vietnam Free Trade Agreement (EVFTA), delegates shared the view at a teleconference in Paris on September 4. 

Vietnamese Ambassador to France Nguyen Thiep addresses the event

Addressing the event, Marie-Pierre Vedrenne, Vice-Chairwoman of the European Parliament's Committee on International Trade (INTA) stressed that both sides should strive to make the most of the opportunities offered by the EVFTA in order to enhance bilateral trade.

Due to the benefits of the EVFTA, Vietnam is likely to become one of the EU’s leading trade partners, and both parties should exert all-out efforts to fulfill the goal, especially with regard to the continued implementation of the commitments as prescribed in the trade pact, said Vedrenne. 

To this end, she suggested that Vietnam step up economic and institutional reforms nationwide to facilitate the implementation of non-tariff commitments as well as rules of origin and phytosanitary requirements.

Economist Laurence Daziano highlighted the country’s relentless efforts in maintaining high economic growth in recent years, especially during the current COVID-19 crisis.

Vietnamese success in containing the COVID-19 epidemic has allowed the economy to swiftly bounce back as the country has adopted a range of appropriate measures such as tightening control over entrants, conducting quarantine for international tourists, and suspending international commercial flights, Daziano noted. 

Meanwhile, Vietnamese Ambassador to France Nguyen Thiep affirmed that the EVFTA is expected to create further opportunities for both French and European businesses as they seek to invest in traditional fields and new realms such as aerospace, clean energy, and infrastructure development in the Vietnamese market.

Nguyen Quynh Anh, the Vietnamese Trade Counselor to France, expressed her wish to continue bolstering co-operation with French partners in industries that can be considered France’s strengths, including energy, high technology, and agriculture. 

The teleconference served as an ideal occasion for scholars to offer their assessment of the country’s current business climate, opportunities, and challenges for local firms and the EU in the context of the COVID-19 pandemic.