EVFTA fosters Vietnam-Belgium trade

According to Vietnamese Ambassador to Belgium and the EU Nguyen Van Thao, the potential of Vietnam-Belgium cooperation is great. Therefore, the two countries should expand cooperation especially in areas such as modern agriculture, health, seaport infrastructure, logistics, and pharmaceuticals. The ambassador emphasized Vietnam’s willingness to cooperate with Belgium in implementing new EU policies in fields such as deforestation prevention, and carbon neutralization. He believes the two sides will continue to achieve positive results in cooperation areas such as climate change adaptation, clean energy, and high technology.

The EVFTA offers Vietnam many opportunities to increase farm produce exports to Belgium and the EU - photo: VNA

Francois Delhaye, Director of the South East Asia and Oceania Department of the Belgian Ministry of Foreign Affairs, Foreign Trade and Development Cooperation, praised Vietnam’s achievements, especially in economic development. He expressed his gladness to see the strong expansion of bilateral relations over the past five decades. “The two countries have the potential and demand for boosting comprehensive cooperation, especially in economics, trade and investment. Belgium is willing to transfer high technology to Vietnam and support its capacity enhancement efforts,” Francois Delhaye affirmed.

“The EU attaches importance to relations with Vietnam, considering Vietnam a bright point in cooperation with the Indian Ocean and the Pacific,” said Paola Pampaloni, EU’s representative, Acting Managing Director for Asia and Pacific at the European External Action Service (EEAS). She praised the two sides’ efforts to establish major cooperation mechanisms as well as to negotiate and sign important agreements such as the EU-Vietnam Framework Agreement on Comprehensive Partnership and Cooperation (PCA), the EVFTA, the Framework Participation Agreement (FPA) on security and defense cooperation, and the Voluntary Partnership Agreement on Forest Law Enforcement, Governance and Trade (VPA/FLEGT). “Vietnam is considered a successful model of the EU’s cooperation with the region in major areas such as trade, climate change adaptation, and environmental protection. In the coming time, the EU will continue working with Vietnam in implementing cooperation agreements, increase experience sharing, and provide Vietnam with technical assistance and human resource training, helping Vietnam implement new EU policies,” Paola Pampaloni said.

Belgium has been one of Vietnam’s leading trading partners in the EU, while Vietnam is Belgium’s largest trading partner in ASEAN. In 2022, trade between the two countries reached US$4.73 billion. At a working session with President of the Belgian Senate Stéphanie D’Hose in August 2023, Prime Minister Pham Minh Chinh said the two countries should make the most of EVFTA opportunities to raise the bilateral trade value to US$7 billion in the next several years. PM Chinh also requested Belgium to continue facilitating the export of Vietnamese seafood and farm produce, such as rice, coffee and seasonal agricultural products, and industrial products such as garments, leather, footwear and electronics to Belgium and the EU.

The Ministry of Industry and Trade and the Vietnamese trade office in Belgium and the EU are intensifying activities to help domestic businesses increase exports to these markets, especially farm produce. However, the Vietnamese trade office in Belgium and the EU said that the EU has released warnings about seafood and dragon fruit violating food safety regulations. Therefore, businesses in the agricultural sector should tighten inspections and controls to ensure the quality of exports to the EU, otherwise the EU will possibly restrict imports from Vietnam.