Dien briefed the French diplomat on the implementation of the E.U.-Vietnam Free Trade Agreement (EVFTA), adding Vietnam welcomes positive outcomes of the trade deal in promoting the economic and trade ties between Vietnam and the E.U. member states.
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Minister of Industry and Trade Nguyen Hong Dien (right) and newly-accredited Ambassador to Vietnam Oliver Brochet |
Speaking highly of the operation of several French energy corporations in Vietnam, he said his ministry always creates favorable conditions for the firms, and expects concerted efforts from the E.U. enterprises to achieve the best business result in the country.
Ambassador Olivier Brochet said that France will help Vietnam build legal standards and further capitalize on the EVFTA to bolster the Vietnam – France economic relations.
He said he will work to promote the shipment of products in France’s strengths in aviation, pharmaceuticals, agriculture, and food processing to Vietnam.
Both sides should step up cooperation in the international arena as well as maintain and promote the values that they are sharing such as respect for international law and the protection of national sovereignty through common forums, he stressed.
The diplomat also mentioned the French Senate’s invitation to Minister Dien to attend the France-ASEAN forum as a honorable guest in December, elaborating that the event is important for Vietnam to promote ties with France under the existing commitments which were made following the official visit to France by Prime Minister Pham Minh Chinh in 2021.
The year 2023 is a significant milestone in the Vietnam – France relations as both sides are celebrating their 50th anniversary of diplomatic relations and the 10th anniversary of the bilateral strategic partnership.
With their time-tested ties, Vietnam and France have developed multifaceted cooperation in all fields, especially economy, trade and investment. France is currently the 4th largest trade partner of Vietnam in the E.U., with two-way trade enjoying robust growth of average 15.7% during 2011-2019.
According to the General Department of Vietnam Customs, two-way trade revenue in 2022 was 5.3 billion USD, up 11.1% from the previous year, with Vietnam exporting 3.7 billion USD worth of products to France, and importing 1.6 billion USD, up 15.2% and 2.8%, respectively.
However, due to global headwinds, total trade turnover between the two nations during January-September fell 10.2% year-on-year to only 3.5 billion USD, of which Vietnam’s exports was valued at 2.4 billion USD, and imports 1.1 billion USD.
Source: VNA