Vietnam Cooperation Forum

Overview of the Vietnam - EU Cooperation Forum.

This has been an annual event since 2018 and has become a "meeting place" for partners, businesses and related organizations, together promoting the Vietnam - EU economic, trade and investment relationship in depth, practically and effectively.

The program was attended by the European Union Delegation, Embassies of EU member countries in Vietnam, localities, domestic and international experts and especially the large participation of the business community. The forum opened a comprehensive and multi-dimensional interactive exchange channel, keeping up with market trends and fluctuations, supporting businesses to grasp information, quickly adapt to maintain and develop production and business activities. The program was accompanied by Vietnam Oil Corporation - Joint Stock Company (PVOIL).

According to the General Department of Customs, after 4 years of implementing the EVFTA, two-way trade turnover between Vietnam and the EU has continuously increased, from 48,9 billion USD the year before the Agreement came into effect to 63,7 billion USD in the 4th year of the Agreement coming into effect, with an average growth rate of 7%/year; in which, exports to the EU market increased by an average of 8,7%/year, imports from the EU market increased by an average of 2,8%/year. The EU is currently the third largest export market and the fifth largest import market of Vietnam.

Speaking at the event, Deputy Minister of Industry and Trade, Mr. Nguyen Hoang Long affirmed that the EU is Vietnam's leading partner in the fields of trade and investment, actively contributing to the process of socio-economic development, integration and energy transition in Vietnam. The Deputy Minister emphasized that with the great advantages of the EVFTA and the upcoming EVIPA, Vietnam has many favorable conditions to promote trade cooperation, attract investment, technology transfer, and support projects from EU partners to promote economic restructuring towards green and digital, including the use of clean energy, renewable energy, and high-tech transformation in production, helping Vietnamese goods meet EU standards and participate deeply and sustainably in the value chain.

Deputy Minister of Industry and Trade Nguyen Hoang Long spoke at the Forum.

In the Discussion section, domestic and international speakers also analyzed many challenges posed by the economic situation that still has many potential risks and instabilities, along with the trend of strengthening green and sustainable trade standards; thereby giving warnings and recommending practical and timely solutions. A series of notable policies and regulations such as the Border Carbon Adjustment Mechanism (CBAM), the EUDR, the Supply Chain Due Diligence Directive (CS3D)... coming into effect are expected to have a significant impact on trade and investment activities of the two sides.

Through valuable exchanges between experts, consulting organizations and lively discussions between delegates, the Forum has promoted its role as a channel for policy dialogue, updating practical and effective market information between the two sides' management agencies and the business community, while supporting the establishment of a network connecting partners between the two sides.