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Vietnam-Flanders business forum talks EVFTA, EVIPA

 The signing of the free trade agreement and the investment protection agreement between Vietnam and the European Union (EU) last June has marked a new development step in their partnership and comprehensive cooperation, said Vietnamese Deputy Minister of Planning and Investment Vu Dai Thang on November 8.

Speaking at the Vietnam-Flanders Business Forum in Belgium, Thang said the deals will contribute to promoting economic links between the ASEAN Economic Community and the EU, and spurring the global economy.

The EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA) will also help Vietnam attract high-quality investment from the EU, and create favourable conditions for Vietnamese investors to access the market, he noted.

Once completed, the agreements, together with efforts and suitable policies of both sides, will bring about pragmatic benefits to people and businesses of Vietnam and the EU, including those from Belgium.

Vietnamese Ambassador to Belgium and Luxemburg, and head of the Vietnamese Delegation to the EU Vu Anh Quang highlighted the deals’ contributions to stepping up Vietnam’s economic reform and integration.

Thanks to the EVFTA and EVIPA, Vietnam will develop its economy in line with principles of a market economy, and international and EU laws and regulations, he said.

The ambassador called on Belgian authorities, organisations and businesses to help to push ahead with the ratification of the agreements by the European Parliament.

The participating Belgian firms were updated on opportunities for investment and business cooperation in Vietnam after the deals come into force, and were advised to prepare resources to optimise these opportunities.

Within the framework of the forum, the Vietnamese Ministry of Transport and the Flemish Ministry of Mobility and Public Works signed a letter of intent on cooperation during the 2020-2022 period.

Over the past 24 years, the Flemish authorities have supported Vietnam in human resources development in service of such sectors as aviation and inland waterway./.