On May 31st, 2016, in International Conference Centre, Hanoi, Ministry of Industry and Trade in coordination with EU Mission in Vietnam and EU-MUTRAP organized the Workshop “Vietnam – EU FTA: Opportunities for businesses”. Vice Minister of Industry and Trade Tran Quoc Khanh and Ambassador, Head of EU Mission in Vietnam Bruno Angelet attended for delivering opening speech.
 
At the Workshop, Vice Minister Tran Quoc Khanh – Head of Vietnamese EVFTA Negotiation Delegation, Mr. Mauro Petriccione, Deputy General Director of Trade of EU Commission – Head of EU’s EVFTA Negotiation Delegation, speakers from VCCI European Chamber of Commerce (EuroCham), Central Institute of Economic Management had presentations. The workshop received   participation of mass businesses in Vietnam and EU, state management agencies, institute and relevant entities.
 
For the last decade, remarkable development has recorded in Vietnam – EU investment and trade relation. Vietnam – EU trade value increased by 7 times from 6.3 billion USD in 2003 to 41.2 billion USD in 2015. EU has become Vietnam’s leading trade partner. Vietnam’s export to and import from EU reached 31 billion USD and 10 billion USD, respectively. Vietnam – EU import – export structure is characterized more mutual complementary than direct competitive. In term of investment, EU maintains its position as a big investor in Vietnam with 1,809 project in implement and capital of 23.16 billion USD, accounting for 8.7% project number and 8% of registered capital.
In that context, the conclusion of EVFTA negotiation in December 2015 is evaluated as an important step forward to promote and deepen a comprehensive bilateral cooperation, especially in trade and investment. With commitments agreed, a comprehensive and high-level EVFTA ensuring benefit balance for both Vietnam and EU is expected to create impetus for the development of Vietnam – EU investment and trade. With mutual complementary import, Vietnam – EU FTA is expected to have positive impacts on  both sides, making contribution to the goal of economic development, more job opportunities creation and social stabilization. To realize FTA’s benefits, Vietnam and EU agreed to finalize FTA for bringing it into force by 2018.
 
Delivering opening speech, Vice Minister Tran Quoc Khanh affirmed the mutual complement between Vietnam and EU export – import structure. Vietnam exports to EU products of garment, footwear, phones, computer, agro-aqua products, wooden items and imports from EU machineries, pharmaceuticals, vehicles…
 
Potentials for export to EU has not fully mobilized by Vietnam. In fact, Vietnam’s export to EU just equal to around 0.75% of EU’s import. Whereas, being as an important investor in Vietnam with huge potentials, EU investors account for only 8.7% of investment projects and 8% of capital.
 
EVFTA is expected to be an impetus for Vietnam – EU investment and trade, said Vice Minister. With regards to tariff, app. 42% of export-products of Vietnam currently enjoy 0% import duty under GSP scheme, whereas with EVFTA such level will go up to 90% in stable roadmap, equal to 28 billion USD. With clear and effective regulations and schemes on trade in goods, rules of origin, SPS, TBT, transparency, intellectual property, geographical indication capacity building, trade and sustainable development…. and other commitments on goods and services market access, government procurement, investment policy, state owned enterprises, policy transparency, the FTA is believed to promote high-quality investment flow into Vietnam.
 
The Workshop Vietnam – EU FTA: Opportunities for businesses becomes a forum to timely provide useful information on opportunities and challenges for business community, state management agencies, organizations and individuals, Vice Minister affirmed.
 
Vice Minister Tran Quoc Khanh and Mr. Mauro Petriccione had presentations on EVFTA from the view of Vietnam and EU. Speakers from CIEM, VCCI, EuroCham had shared useful information on positive impacts and challenges posed by the FTA for both Vietnamese and European businesses. Q&A session was organized to encourage interaction between the speakers and participants to have more understanding on FTA for making plan to take its full advantages.
 
Ministry of Industry and Trade in coordination with EU-MUTRAP launched EVFTA booklet. The large number of such booklet is scheduled to printed out and distributed to the businesses. It is the effort of Ministry to introduce EVFTA content in easy understanding format. EU Mission also introduced English versions to European businesses.