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 n⭕egotiation 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.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
Despite global economic uncertainties, Binh Duong has maintained strong momentum in both exports and industrial production during the first half of 2025.
Chief negotiator Mauro Petriccione (Photo:VNA)
