Early signing of Vietnam-EU FTA promoted
The promotion of negotiations on a Vietnam-EU Free Trade Agreement (FTA) toward the early signing of the agreement will contribute to intensifying cooperation for both sides’ interests.
Ho Chi Minh City People’s Committee Chairman Le Hoang Quan made the remark while receiving European Commission (EC) President Jose Manuel Durao Barroso on August 26.
Quan noted that Vietnam-EU ties have grown strongly despite the global-scale economic crisis. He hoped Barroso’s visit would help to further strengthen friendship and cooperation between Vietnam and the European Union.
HCM City, the country’s largest economic hub, has received much attention from EU investors, focusing on economics, trade, science, education, health and tourism. The city now has 233 representative offices of European groups and companies. EU investors are running 833 projects in the locality with combined capital of over US$8.9 billion, he said.
Quan reported that two-way trade between HCM City and the EU has developed rapidly. In the first seven months of 2014, the city exported products worth more than US$2.1 billion to the EU, while spending over US$1.2 billion on importing goods from the union.
For his part, EC President Barroso briefed his host on the results of his meeting with representatives of European companies operating in Vietnam, saying they are satisfied and see the future for cooperation and development in Vietnam, including HCM City.
According to the EC official, the conclusion of the Vietnam-EU FTA will be a basis for promoting trade between the two sides, benefiting both business communities and peoples.
European firms highly value Vietnam’s human resources, he said, adding that EU is willing to increase cooperation in the field with the Southeast Asian nation.