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EVFTA brings immediate impacts to Vietnam and EU: PM

Despite unfavorable global trade environment, trade relations between Vietnam and the EU continues its upward trend, Prime Minister Nguyen Xuan Phuc has said.

In just a short period of time since the EU – Vietnam Free Trade Agreement (EVFTA) became effective, the trade deal has brought immediate impacts for both parties and contributed to their respective economic recovery processes.

Prime Minister Nguyen Xuan Phuc made the statement in a meeting on December 10 with Ambassador of the EU to Vietnam Giorgio Aliberti on the occasion of 30th anniversary of the establishment of bilateral relations.

“Vietnam’s relation with EU holds strategic significance and is a key part in its foreign policies,” stated Mr. Phuc.

Despite unfavorable global trade environment, trade relations between Vietnam and the EU continues its upward trend, he added.

Ambassador Aliberti said the 30th anniversary marks an important milestone in Vietnam-EU relations, expecting greater cooperation between the two sides in various fields.

Prime Minister Nguyen Xuan Phuc and Ambassador of the EU to Vietnam Giorgio Aliberti. Photo: Quang Hieu.

In a difficult year with the Covid-19 pandemic, Vietnam has shown its prominent role on the world’s stage, especially in the position of ASEAN Chair 2020 and non-permanent member of the UN Security Council for 2020021 tenure, Mr. Aliberti added.

“Among them, the most important feat is Vietnam’s successful control of the pandemic,” he said.

As the EVFTA has created favorable conditions for Vietnam and the EU to boost cooperation, the strong bilateral relations have been based on mutual respect, the Ambassador noted.

In the coming time, Vietnam should continue to take advantage of the EVFTA, seen as an expressway, to export agricultural products and seafood to EU, while the bloc considers the trade deal a platform for Vietnam to holds a higher rank in the global value chains, stated Mr. Aliberti.

The Vietnam PM said he would instruct government agencies to continue creating favorable conditions for foreign investors, especially those from the EU.

The EU remained Vietnam’s third largest export market in the January-November period, spending US$32.2 billion on Vietnamese goods, down 2.4% year-on-year, while the latter imported goods worth $13.2 billion from the bloc during the same period, up 4.3%.

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