Golden time for Vietnam, EU to cooperate to overcome global economic challenges

Ambassador, Head of the EU Delegation to Vietnam, Mr. Julien Guerrier (2nd from left) and Chairman of EuroCham Vietnam Bruno Jaspaert at a press conference on the new US tax policy - Photo: VGP/Huong Giang

Mr. Julien Guerrier made this recommendation at a press conference on the new US tax policy on the occasion of the announcement of the White Book 2025 of the European Chamber of Commerce in Vietnam (EuroCham), which took place on April 11 in Hanoi .

In the coming time, the two sides can continue to cooperate in potential areas such as human resource development, education, digital economy , green and circular economy, artificial intelligence, innovation and semiconductors.

He also expected that the upcoming visits of EU Trade Commissioner Maroš Šefčovič and President of the European Commission Ursula von der Leyen to Vietnam, as well as the upgrading of EU-Vietnam relations, would be important milestones for the two sides to jointly chart a path for future development.

The EU-Vietnam Free Trade Agreement (EVFTA) is a solid foundation for economic relations between the two sides, having been in effect for nearly five years. It is necessary to make the most of the EVFTA to increase value in trade and investment relations.

Mr. Julien Guerrier quoted Prime Minister Pham Minh Chinh when announcing Vietnam's FTA Index this week: "FTA is the door to deeper international integration."

Vietnam and the EU need to together demonstrate that trade cooperation brings more value than trade confrontation.

EU businesses commit to long-term investment in Vietnam

EuroCham Vietnam Chairman Bruno Jaspaert announced that as soon as the US announced a 46% reciprocal tax rate for Vietnam, EuroCham conducted a survey and the results showed that no member had announced that they would close a factory in Vietnam.

About a quarter of businesses said they would be affected by the new tax policy, with revenue falling by 20% as a result.

However, they may have to adjust, cut costs or change working hours, and still be able to adapt, as the economy always has its ups and downs.

Mr. Bruno Jaspaert said that a quarter of European companies said that the new tax policy has no impact on the workforce. About 25% of European businesses in Vietnam rated the impact as neutral – neither good nor bad. In fact, nearly 10% said that this tax policy could have a positive impact.

Mr. Bruno Jaspaert also advised Vietnam to be patient, not to rush, and to wait until things are clearer. The good news is that Vietnam has a friend – the European Union, which is in the same boat and is looking for more friends. Therefore, he hopes that the positive thing in this “storm” is the increasingly strengthened partnership between the EU and Vietnam./.

Source: https://baochinhphu.vn/thoi-diem-vang-cho-viet-nam-eu-hop-tac-vuot-qua-thach-thuc-kinh-te-toan-cau-102250411102055297.htm