Brussels (VNA) – The European Chamber of Commercein Vietnam (EuroCham) will keep close coordination with Vietnam to seize new opportunitiesand expand cooperation in important fields, its leaders said at a seminar heldin Brussels on October 9.

The event, discussing the Vietnam - EU trade ties and therole of EuroCham, was attended by over 40 guests, including leaders of EuroCham,relevant agencies of the EU and Belgium, and representatives of some bigEuropean businesses operating in the Southeast Asian country like LEGO, PharmaGroup, DEPR Vietnam, and Equinor.

Stressing the vigorous growth of the Vietnam - EU relations, VietnameseAmbassador to Belgium Nguyen Van Thao, who is also head of the Mission ofVietnam to the EU, said opportunities for intensive and extensive cooperationare now in place, but much potential remains untapped.

As a major association of European enterprises and with bigcapital, high technology and rich experience, EuroCham has a crucial role toplay in promoting Vietnam - EU economic partnerships. Vietnam needs assistance,experience and vision shared by, and close coordination from EuroCham to jointlygrasp chances and boost mutually beneficial cooperation, he noted.

Calling on EuroCham to work with Vietnam to step up someimportant issues, Thao said that once ratified, the EU - Vietnam InvestmentProtection Agreement (EVIPA) will generate benefits for European investors inthe country. He appealed to EuroCham to raise a stronger voice to advocate theearly ratification of the EVIPA by the remaining member countries.

The Vietnamese Government always creates the best possibleconditions for foreign investors, he affirmed.

With regard to the EU’s “yellow card” warning against illegal,unreported and unregulated (IUU) fishing, the diplomat highlighted Vietnam’sdetermination to carry out the EU’s recommendations.

He emphasised that the “yellow card” affects not only Vietnam’s aquatic exports, interests of the EU’s trading businesses andconsumers, but also the investment and business climate in Vietnam, which will subsequentlyimpact European firms.

As EU enterprises have a considerable voice in this regard,the ambassador called on them to coordinate with Vietnam to work for theEuropean Commission’s removal of the “yellow card”.

Mentioning the EU’s new policies such as the EU DeforestationRegulation (EUDR) and the Carbon Border Adjustment Mechanism (CBAM), he saidthose policies will influence both Vietnamese and EU enterprises, and thatVietnam is ready to cooperate with and hopes the EU will maintain dialogue,boost technical and financial support, and help with capacity building for thecountry.

Agreeing with Vietnam’s proposals, EuroCham leaders and business representativessaid the country is important to the EU. They noted that during meetings withEuroCham, relevant agencies of the EU have underlined the stature andcooperation potential of Vietnam.

EuroCham leaders highly valued the two sides’ establishmentof solid cooperation frameworks, especially such important deals as the EU - VietnamFree Trade Agreement (EVFTA), which have created a strong impetus for comprehensiveand effective economic ties.

EuroCham will keep close coordination with Vietnamto seize new opportunities and expand cooperation in important fields such asclean energy, pharmaceutical, modern agriculture, green finance, and logistics,they added.

They saidEuroCham will work closely with Vietnam to raise a stronger voice towards EUagencies and member countries.

Chairmanof EuroCham Vietnam Gabor Fluit shared the viewthat the EVIPA ratification, the IUU “yellow card” removal, and theimplementation of new policies will help Vietnam further integrate into andjoin sustainable supply chains, and bring about benefits for EU firms operatingin the country.

He also proposed Vietnam continue supporting EU enterprisesand further improve the investment and business climate to attract high-qualityinvestments, including those from the EU.

At the seminar, representatives of EU companiesalso spoke highly of Vietnam’s policies towards sustainable development./.