EC Vice President welcomed in Hanoi

Prime Minister Nguyen Tan Dung was speaking at a meeting with visiting Vice President of the European Commission, Commissioner for Industry and Entrepreneurship, Antonio Tajani, in Hanoi on November 13.

Vietnam welcomes and creates the best possible conditions for European investors to do long-term and efficient business with their Vietnamese counterparts in the country, he assured his guest.

PM Nguyen Tan Dung told EC Vice President Antonio Tajani   Vietnam welcomes EU investors to do long-term business in the country (Photo: VGP)

He stressed two-way trade turnover has increased sharply over the years, reaching more than US$29 billion in 2012, and the 2013 figure expected to grow by 15%. The EU is one of Vietnam’s leading investors, with their total registered capitalization hitting more than US$32 billion. Most EU-invested projects have been successful in the country. 

Dung thanked the EC for granting the Generalized System of Preferences (GSP) in the 2014-2016 period for Vietnam. He proposed the EC ratify the partnership and cooperation agreement (PCA) between Vietnam and EU and accelerate negotiations of the Vietnam-EU Free Trade Agreement to be signed in late 2014 as scheduled.

The two agreements will provide a legal framework for the two business communities to penetrate their markets and strengthen trade, investment and tourism cooperation, the PM said.

He also proposed the EU recorgnise Vietnam’s full market economy status and maintain ODA for Vietnam.

In response, Antoni said European businesses want to expand trade, investment and tourism ties with Vietnam, citing plenty of business opportunity in the Southeast Asian nation, including economic development, easier access to finances and operation in a transparent environment.

He asserted the EU wants to foster cooperation with Vietnam, particularly among smaller enterprises in farm product processing, tourism, chemicals and cosmetics. He revealed the EC plans to send more business delegations on fact-finding tours of Vietnam next year

The EU wants to sign the FTA with Vietnam in late 2014, Antoni said.

He briefed Dung on the results of working sessions with Vietnamese ministries and departments of tourism, trade, investment and small-and medium-sized enterprises. He confirmed Europe is willing to increase cooperation with Vietnam in space exploration, as well as in natural disaster forecast and warning in particular.