On November 27, in Hanoi , the Trade Promotion Agency and the Wallonia Export and Investment Agency, Kingdom of Belgium (AWEX) signed a Letter of Intent (LOI) for cooperation between the two parties.
The signing ceremony of the Letter of Intent for cooperation between the Trade Promotion Agency and the Walloon Region Export and Investment Agency, Kingdom of Belgium is within the framework of the working trip of the Walloon Region Economic and Trade Delegation, Kingdom of Belgium in Vietnam.
In recent times, economic and trade cooperation between Vietnam and Belgium has developed positively. Belgium is currently Vietnam's 6th largest trading partner in the European Union (EU), with a total trade turnover of up to 4.73 billion USD by 2022, while Vietnam is Belgium's 2nd largest trading partner in ASEAN. Regarding investment, Belgium currently has 88 projects in Vietnam, with a total registered capital of about 1.1 billion USD.
In particular, the EU-Vietnam Free Trade Agreement (EVFTA) coming into effect in August 2020 has contributed to promoting economic and trade cooperation between Vietnam and the Kingdom of Belgium. During the implementation of the EVFTA, Belgium is considered to have played an important role in promoting trade and foreign investment in Vietnam.
Ambassador of the Kingdom of Belgium to Vietnam - Mr. Karl Van den Bossche said that the Economic and Trade Delegation of the Wallonine region of Belgium to Vietnam this time includes 20 companies and enterprises with different scales, business fields and experiences, but all highly appreciate the development potential of Vietnam and all share the desire to build effective connections with Vietnamese enterprises.
In order to promote Vietnam - Belgium trade cooperation and create favorable conditions for businesses of the two countries to cooperate in business, Mr. Karl Van den Bossche shared his wish that the Vietnamese Government would exempt visas for Belgian businesses as it has done for businesses of 7 other EU countries. "On the Belgian side, we will create favorable conditions and support for Vietnamese businesses to learn about and promote business in Belgium as well as the EU, including being ready to support businesses to travel within the Schengnen area," said Mr. Karl Van den Bossch.
Highly appreciating the development potential of Vietnam, especially the EVFTA Agreement, which is a milestone that opens up opportunities for businesses of both sides to cooperate in business, therefore, with the signing of the Letter of Intent with the Trade Promotion Agency, Ms. Pascale Delcomminette - Executive Director of the Walloon Export and Investment Agency emphasized that this event will create a solid foundation for businesses of both sides to cooperate, as well as strengthen economic, trade and investment links between Vietnam and Belgium; as well as contribute to the overall picture of global economic growth.
Speaking at the event, Mr. Le Hoang Tai - Deputy Director of the Trade Promotion Agency, Ministry of Industry and Trade also said that the signing of the Letter of Intent by the Trade Promotion Agency and the Wallonia Export and Investment Agency is to commit to promoting cooperation in trade and investment promotion activities between the two countries. "This will be the first brick to create a solid foundation for cooperation between the two sides, strengthening economic links between Vietnam and Belgium and more specifically the Wallonia region, opening the door to new cooperation possibilities and common success" - Mr. Tai said.
The Trade Promotion Agency is an agency under the Ministry of Industry and Trade, responsible for state management of trade promotion and branding in accordance with the law, and coordinating the implementation of trade promotion, branding, and investment promotion activities for industrial and commercial development. “We are committed to always supporting and creating favorable conditions for foreign enterprises in general and Belgian enterprises in particular to work, trade and connect with Vietnamese enterprises,” Mr. Tai emphasized.
| The Walloon Export and Invest Agency - Kingdom of Belgium is the trade and investment promotion organization of the Walloon Region. Walloon Region is a French-speaking region in the south of Belgium and covers half of Belgium's area. AWEX has a network of more than 100 offices abroad, including one in Ho Chi Minh City. |
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