Business briefing: Will European union - Vietnam free trade agreement unlock the green growth market in Vietnam? - presence of Mr. Tat Thanh Cang, Vice Chairman, HCMC People’s Committee

Source: http://www.eurochamvn.org

 

On Thursday, 18th June 2015, EuroCham and its Green Growth Sector Committee organised the business briefing: Will European Union-Vietnam Free Trade Agreement Unlock the Green Growth Market in Vietnam?


It was an honour to have Mr. Tat Thanh Cang, Vice Chairman, Ho Chi Minh City People’s Committee presenting “EU – Vietnam FTA Expectation and Opportunities for Green Growth Market” 


Representative from the Delegation of the European Union to Vietnam, Ms. Jana Herceg, Deputy Head, Economics & Trade Session shared insightful updates on EU-Vietnam FTA. 

 

Vietnam and the European Union are currently negotiating a free trade agreement (FTA), which is likely to have a significant impact on the trade and investment relations between the two parties. The positive impact that the FTA may have can be anticipated by looking at the trade and investment figures. In 2013, the EU was not only one of Vietnam’s biggest trade partners with a total value of trade in goods of EUR 27.6 billion, it was also among the biggest investors in Vietnam, with 1,810 FDI projects.

 

Among other things, it is expected that the FTA will provide more opportunities for European investment and trade in Vietnam, for example by eliminating import duties on most EU goods and by providing increased access to Vietnam’s market for EU investors, clean technologies and green growth investments in particular. Also, the FTA will increase the cooperation and access for Vietnamese goods and business partners to the European Union. 

Vietnam has significant potential for clean energy development, with abundant resources of renewable energy that can be utilized to meet the country’s rapidly increasing demand for energy. While there has been some early success, deployment of renewable energy has not reached the country’s potential yet. There is significant demand and opportunity for private-sector solutions and investment to meet Vietnam’s power supply needs. 

EU and Vietnam representatives from public and private sector actively participated in the discussion on the topic: Will the EU – Vietnam FTA be able to unlock the clean energy market, and create opportunities for European companies with advanced technology and investment capacity to play their roles in the sustainable energy development in Vietnam?

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