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This is one of large-scale projects of European investors after the EU – Vietnam Free Trade Agreement (EVFTA) came into force in early August.

The EU is the second largest import market in the world, accounting for 14.9% of total global imports, and Vietnam’s second largest export market.

The main issues to be put on the table are building the ASEAN Community, joint response to Covid-19, the centrality of ASEAN and other regional and world issues.

Vietnam attained a trade surplus of over US$8.4 billion during the first seven months of this year, significantly higher than the surplus of US$1.8 billion recorded in the same period last year.

Vietnam's domestic economic rebound continued, albeit not yet at the pace of the pre-crisis level, stated the World Bank.

Prime Minister Nguyen Xuan Phuc expected the soon ratification of International Labor Organization Convention No.87 on Freedom of Association and Protection of the Right to Organize.

The EVFTA is an opportunity for Hanoi to boost cooperation in trade and investment with EU member countries, said Hanoi’s mayor Nguyen Duc Chung.

The EVFTA is the EU’s “vote of confidence” of Vietnam's ongoing reform efforts, as well as the country’s strategic significance in the global stage, stated a EuroCham senior executive.

This is the second FTA that the EU has ever made with a Southeast Asian country, after Singapore.

The EU-Vietnam agreement is the most comprehensive trade agreement the EU has concluded with a developing country.