Brussels (VNA) – An online conference onbusiness and investment opportunities for Belgian firms in Vietnam was jointly heldby the Belgium – Vietnam Alliance (BVA) and the Belgian- Luxembourg Chamber ofCommerce (Beluxcham) in Vietnam on July 13 in Brussels.

The event offered a chance for Belgian businesses to understand more about theVietnamese market, thus fully tap opportunities brought by the European Union –Vietnam Free Trade Agreement (EVFTA) when it is enforced.

The EVFTA, which will take effect on August 1, is expected to bring positiveimpacts to Belgian exporters when Vietnam's economy still sees a promising growthoutlook despite the COVID-19 pandemic.

According to Vietnamese Ambassador to Belgium Vu Quang Anh, the EVFTA is themost modern, comprehensive and ambitious agreement ever signed between the EUand a developing country. It will create a strong momentum for the traderelations between Vietnam and the EU in general, and Vietnam and Belgium inparticular.

He expressed his hope that Vietnam and Belgium would expand their bilateraltrade and investment ties in areas of mutual benefit such as smart agriculture,food safety, environmental technology, and logistics, towards the common goalof post-pandemic sustainable growth and development.

The diplomat stated that Vietnam is capable of facilitating Belgian export and investmentactivities in terms of seaport, digital technology, and rail and sea transportnetworks.

In their speeches, EU and Belgian attendees praised Vietnam's achievements in thefight against COVID-19, and the country’s effective measures to recover itseconomy.

Deputy head ofthe EU Delegation to Vietnam Axelle Nicaise highlighted advantagesof the EVFTA, saying that the agreement opens up opportunities for Europeanbusinesses to compete fairly with other countries that signed FTAs withVietnam.

Vietnam’s commitments to sustainable development will be realised when theagreement takes effect, creating an increasingly favourable businessenvironment, she said, adding that thanks to the EVFTA, EU firms are likely to relocatetheir production lines from other countries to Vietnam, thus generating morejobs for the Vietnamese side.

During the event, participants shared useful information about opportunitiesand challenges in investment and business in Vietnam with Belgian businessmen.

Chairman of the European Chamber of Commerce(EuroCham) Nicolas Audier said Vietnam could become a hub for directinvestment from the EU to ASEAN./.