Hanoi (VNA) – The European Chamber of Commerce in Vietnam (EuroCham) released the10th edition of the Whitebook in Hanoi on March 15. 

The Whitebookis a collective expression of the views of EuroCham’s members on specificaspects of the business environment in Vietnam. The information and views putforward in the Whitebook are solely intended to promote a constructive dialogueand offer recommendations to the Vietnamese government for the improvement ofEuropean – Vietnamese business relations.  

Speaking atthe launching ceremony, EuroCham President Gellert Horvath said the new editionof the Whitebook was released on the occasion of the 20th founding anniversaryof EuroCham. 

He added that2018 is a special year for EU-Vietnam relations as the two sides are preparingfor the enforcement of the EU-Vietnam Free Trade Agreement (EVFTA), which isexpected to take effect this year. 

The Whitebookincludes a chapter on the EVFTA highlighting its significance to businesses andgovernments, he revealed.

AmbassadorBruno Angelet, Head of the EU Delegation to Vietnam, said the EU is a biginvestor in Vietnam, while Vietnam is a strategic partner of EU. 

Vietnamremains an attractive market to the EU and a big exporter to the union withhigh-quality products, he said, adding that the Southeast Asian country hasgrown to become a middle-income nation. 

This yearwill open up a new cooperation framework for the EU and Vietnam, Angelet said,noting that the EU could help Vietnam to achieve sustainable economic growth. 

The diplomatexpressed his confidence that the EVFTA will help promote the bilateralrelations in the foreseeable future. 

Therecommendations in the Whitebook 2018 will create favourbale businessenvironment for the two sides and ensure the effective implementation of theEVFTA, he added. 

Meanwhile, VietnameseDeputy Prime Minister Vuong Dinh Hue showed his delight at the growth ofEuroCham from 60 members in 1998 to nearly 1,000 members at present, sayingthat the figure demonstrated that Vietnam is an open market with numerousinvestment opportunities. 

TheVietnamese government has gained a lot of benefits from the development ofEuroCham, he said, adding that the government has always acknowledged therecommendations from EuroCham members over the past 10 years and is willing totake measures in the short, medium and long terms to meet their proposals,including the EVFTA. 

He noted thatwith the support of businesses, the two sides concluded negotiations on theEVFTA in December 2015, then finalised legal revision procedures.

There aresome technical issues that need to exchange more, however, with the will anddetermination of both sides, such matters will be addressed soon so that theagreement could be officially signed and approved this year, he said.

With two-waytrade increasing to over 50 billion USD in 2017 from just 4 billion USD in 2000and thousands of EU investment projects in Vietnam, the Deputy PM believed thatthe new, high-quality and comprehensive trade agreement will help optimise potentialand bring the bilateral relations to a new height. 

The signingand ratification of the EVFTA will deliver an important message to the worldabout the two sides’ determination to create and maintain an open environmentfor trade and investment, he added. 

The two sideshad done all possible things to build a comprehensive and high-qualityagreement, meeting expectations of their businesses, Hue said. 

He voiced hishope that EuroCham will actively push on the ratification of the EVFTA in  EU nations to bring it into force as soon aspossible. 

TheVietnamese government will accelerate technical and necessary proceduresaccording to the country’s regulations to speed up the signing, ratificationand implementation of the EVFTA, he affirmed.

The pact is an important part in Vietnam’sinternational economic integration strategy, the Deputy PM stressed.

Along with the Comprehensive and ProgressiveAgreement for Trans-Pacific Partnership (CPTPP) signed by Vietnam and 10 othercountries on March 8, 2018, the EVFTA demonstrates Vietnam’s determination tomaintain a transparent, open, and friendly environment to foreign investors andobeying fundamental principles of the multilateral trade system, he noted.-VNA