Vietnam, EU optimise opportunities from free trade deal
A negotiation delegation from the EU is on a working visit to Vietnam to raise public awareness of how to optimise the benefits and opportunities from the free trade between two sides (EVFTA).
HCM City (VNA)♌ – A negotiation delegation from the European Union (EU) is on a working visit to Vietnam to raise public awareness of how to optimise the benefits and opportunities from the freshly-concluded free trade agreement between two sides (EVFTA), Chief negotiator Mauro Petriccione said in an interview granted to the Vietnam News Agency.
He said the EU and Vietnamese experts will review the agreement to ensure all of its contents are legally built.
The conclusion of the EVFTA is a significant stride in the bilateral economic, trade and investment relations, he said, describing the deal as an inclusive, high-quality one that balances benefits for both the EU and Vietnam.
Particularly, the two sides’ import-export structure is supplementary rather than competitive, thus opening opportunities for businesses to penetrate into the respective markets, he said.
Regarding EU’s trade policy for ASEAN and Vietnam in the coming time, he said, the EU is running a trade deficit with many countries . Therefore, the union is seeking opportunities to expand its markets and promote import-export activities in the global arena.
He highlighted ASEAN as an attractive destination to the EU’s supply chain, but the negotiations for an FTA between EU and ASEAN have not been successful, adding that EU has to implement its strategies to negotiate an FTA with each member in the association.
After Singapore and Vietnam, the EU will continue to conduct bilateral FTA negotiations with other ASEAN member states such as the Philippines and Malaysia, he revealed.
The EU is currently the second biggest trade partner of Vietnam with two-way trade reaching over 41.2 billion USD.
As of 2015, the EU run 1,809 investment projects in Vietnam with a total capital of 23.16 billion USD.-VNA
The review of Vietnam’s laws to make them consistent with EVFTA commitments on Customs and Trade facilitation has focused more on the field of customs with little attention on trade facilitation.
A conference was held in Hanoi on March 16 to review Vietnam’s legal framework against the commitments of the EU – Vietnam Free Trade Agreement (EVFTA) on investment.
Vietnamese enterprises should understand and meticulously apply the stringent rules of origin, as well as the exceptions of free trade agreements, to enjoy the best from preferential taxation.
The EU-Vietnam free trade agreement (EVFTA) will create a boost for trade and investment between the two sides, affirmed Deputy Minister of Industry and Trade Tran Quoc Khanh.
Opportunities and challenges for Vietnam under the EU-Vietnam Free Trade Agreement (EVFTA) were highlighted at a workshop held in Ho Chi Minh City on June 1.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
Vietnam is now positioning itself as a global manufacturing hub with a diversified export portfolio, improved product quality, and enhanced price competitiveness.
Chief negotiator Mauro Petriccione (Photo:VNA)
