Currently, the European Union (EU) is one of the leading trade partners of Vietnam. The EU-Vietnam Free Trade Agreement (EVFTA) officially took effect from August 1 this year. Mr. Liem affirmed that Europe is a big market for enterprises in Ho Chi Minh City. Last year, the city's export turnover to the EU exceeded $5 billion, an increase of 5.4 percent. In the first six months of this year, export turnover to this market also touched $2.3 billion. However, this is also one of the fastidious markets, requiring businesses to make efforts to ensure quality, product design, as well as many other factors, to pass regulations set by the EU. Mr. Liem asked the business community for suggestions on solutions to improve the position of Vietnamese goods in the international arena, especially after the EVFTA officially became effective.
Speaking at the seminar, Ambassador Luong Thanh Nghi, Deputy Chairman of the State Committee for Overseas Vietnamese Affairs under the Ministry of Foreign Affairs, emphasized that the contribution of overseas Vietnamese is immeasurable. Overseas Vietnamese in Europe have been actively participating in the campaign to mobilize overseas Vietnamese to introduce and sell products and develop distribution channels for Vietnamese products abroad in the period from 2019 to 2024.
At the seminar, Mr. Jean-Jacques Bouflet, Vice President of the European Chamber of Commerce in Vietnam (EuroCham), affirmed that with more than 1,000 members, EuroCham would do its best to ensure smooth and efficient implementation of the EVFTA. He said that Vietnam needs to help domestic enterprises strengthen the EU market share by better understanding the market and business standards of the EU, improving product quality, traceability, and reliability, at the same time adopting the culture of innovation, transparency, and integrity.
Also, at the seminar, three memorandums of understanding for the comprehensive strategic partnership between Vietnamese and Korean enterprises were signed. This event added an important milestone in the strong trade cooperation and development between Vietnam and South Korea.