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Vietnam, France target dynamic trade deals

Vietnam and France need to further boost trade cooperation and enter into large-scale contracts in the future to match the two sides’ potentials.
Vietnam and France need to further boost trade cooperation andenter into large-scale contracts in the future to match the two sides’potentials. This requirement was stated by bothVietnamese and French representatives at a press briefing in Hanoion Nov. 25 to review outcomes of a recent meeting of the High-levelCouncil for Vietnam-France Economic Cooperation Development (HCDCE). The meeting, co-chaired by Vietnamese Deputy Ministerof Planning and Investment Cao Viet Sinh and French Foreign TradeSecretary of State Pierre Lellouche, aimed to target a dynamic new tradecooperation.
Addressing the press briefing,Deputy Minister Sinh said two-way trade turnover between Vietnam andFrance had reached 2 billion USD so far this year, noting thatFrance had invested into 305 projects with a total capital of 3billion USD.
For his part, Pierre Lelloucheunderlined that the French government and businesses were pleased withthe frankness and friendship at the meeting and that French businesseshave pointed out difficulties and barriers when doing business inVietnam . He said he was impressed by Vietnam ’sGDP growth rate of 7 percent, and especially the country’s bilateraltrade turnover over the past two years which has increased remarkably –by nearly 30 percent. However, he pointed out thatthe French market share in Vietnam was only 1.2 percent, which, hesaid, did not match the two sides’ potential. Aretreat meeting took place on Nov. 25 in Hanoi , during which the twoco-chairs shared their views on difficulties challenging the twocountries’ businesses, especially the way to penetrate and invest intoeach market. They also worked on measures toimprove investment environments and reduce trade barriers, thus boostingeconomic cooperation in the future. The extendedmeeting of the HCDCE serves as a forum for businesses to exchange andassess potential for investment and trade cooperation between the twocountries./.

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