Eurocharm releases Whitebook on Vietnam’s trade, investment

The European Chamber of Commerce in Vietnam (EuroCham) on Thursday presented the 10th edition of the Whitebook in Hanoi in its annual event entitled The EVFTA Expected in 2018: Building on 30 years of FDI | 20 years of EuroCham | 10 years of Whitebook.

This 10th edition of the EuroCham Whitebook gathers key concerns and recommendations from the European business community in Vietnam, discussed among EuroCham’s members and sector committees throughout the year. It is a collective message that cuts across several industries and companies, providing an accurate illustration of the expectations and recommendations of EuroCham members and partners.

The EVFTA will not only accelerate Vietnam’s growth and development across all industries and sectors but will also improve the legal framework, strengthen the trade and the investment environment, reduce andy barriers to trade, improve safety and quality standards, and boost exports to the EU. This will benefit not just the businesses but also the welfare and living standards of Vietnamese people. We do strongly believe that with mutual efforts from Vietnam and the EU authorities and with the support of organizations like EuroCham Vietnam, this target can be reached. Our work will not just stop there. EuroCham is committed and motivated to help facilitate the growth of trade and investment being brought by the EVFTA., said Dr. Gellert Horvath, Co-Chairman of EuroCham in Vietnam, at the launching ceremony.

In his address, Deputy Prime Minister Vuong Dinh Hue reiterated that Vietnam welcomes all EuroCham’s recommendations, saying that the signing of the EU-Vietnam Free Trade Agreement (EVFTA) reflects both sides’ determination in creating an open environment for trade and investment.

“The two governments and negotiators have done everything necessary to create a comprehensive and high-quality EVFTA, satisfying the expectations of businesses from both sides. I call on related parties to strive to put the agreement into effect as soon as possible. On behalf of the Vietnamese government, we pledge to prioritize all technical issues and speed up all necessary procedures to complete the signing of the agreement.”, said Deputy PM Hue.

As Vietnam and other 10 countries signed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) last week, the signing of EVFTA shows Vietnam’s determination in ensuring an open, transparent, and investor-friendly environment on par with basic multilateral trade standards.

Source: VOV5