France, Vietnam businesses seek cooperative opportunities

Main speakers at the meeting, including Vice Chairman of Medef International Thierry de Margerie, Minister of State for Commerce Martine Pinville and the Special Representative of the Minister of Foreign Affairs and International Development for ASEAN Philippe Varin, highlighted the meaning of the event and considered it a part of activities to help businesses from the two countries seek investment and cooperation opportunities.

Martine Pinville underscored that the EU-Vietnam Free Trade Agreement (EVFTA) will remove tariff barriers and facilitate investment activities. She believed that economic and trade ties will further prosper after the signing of EVFTA.

Vietnam Minister of Industry and Trade Vu Huy Hoang in turn briefed the participants on the country’s open door and integration policies, EVFTA basic contents and economic and trade relations between the two countries as well as opportunities under the framework of the EVFTA.

Since 2012, Vietnam has negotiated and signed new generation FTAs with the Republic of Korea, Japan, and the Eurasian Economic Union (EAEU) and recently Trans-Pacific Partnership (TPP) agreement, Hoang said.

After the EVFTA is signed Vietnam will have FTAs with 55 countries, including 15 G20 nations and all G7 countries.

Minister Hoang added that EVFTA will offer huge opportunities for both sides’ businesses and urged the French Government to support it so that it will be approved and effective soon.

Two-way trade turnover between Vietnam and France reaches around US$3.7 billion annually. Currently more than 300 French businesses are operating in Vietnam, including popular brand names like Ereva, Casino, EDF, and Airbus.