31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Oct 04, 2022 / 14:13

Vietnam, EU target sustainable development cooperation

The MOU aims to advance EU-Vietnam sustainable development cooperation through comprehensive dialogue, investment coordination, knowledge sharing, and technology transfer.

The Vietnam Trade Promotion Agency partners with the European Chamber of Commerce (EuroCham) in Vietnam to boost sustainable development initiatives, contributing to the implementation of Vietnam’s National Green Growth Strategy.

 An overview of the signing ceremony. Photos: EuroCham

Under a Memorandum of Understanding (MOU) signed between the two sides in Hanoi on October 3, the Vietnam Trade Promotion Agency (VIETRADE) will support European businesses in seeking Vietnamese companies and exhibitors for the Green Economy Forum and Exhibition (GEFE) 2022 and its Vietnamese National Pavilion.

“The MOU will help create more opportunities for the resource sharing necessary to make transformative changes. This is the only way forward. We need to pool our resources to fill the current gaps,” EuroCham’s Chairman Alain Cany said.

The GEFE 2022 will take place in Ho Chi Minh City's THISO SkyHall from November 28-30.

The exhibition will be jointly organized by VIETRADE and EuroCham, aiming to advance EU-Vietnam sustainable development cooperation through comprehensive dialogue, investment coordination, knowledge sharing, and technology transfer.

The event is expected to lure over 150 exhibitors in renewable energy, banking, fast-moving consumer goods (FMCG), and non-government organizations. European and Vietnamese companies will have the opportunity to showcase their latest technology and cutting-edge initiatives.

Each of the three days will include roundtables and seminars on a broad topic, such as energy and green finance on the first day, waste and sustainability on the second, and innovation and entrepreneurship on the third and final day. 

Deputy Minister of Industry and Trade Do Thang Hai (R) and other delegates attend the press conference on October 3 in Hanoi.

Deputy Minister of Industry and Trade Do Thang Hai said GEFE would be a meaningful event and an essential part of enforcing sustainable development initiatives in line with the bilateral agreements between Vietnam and the EU, contributing to Vietnam’s National Green Growth Strategy.

GEFE 2022’s primary goal is to support Vietnam in meeting its COP26 commitments and accomplishing the development goals outlined in its National Green Growth Strategy for 2021-2030. Academics, innovators, students, and policymakers from Europe, Vietnam, and Southeast Asia will participate in panel discussions, an exhibition, and business-to-business and business-to-government meetings during this three-day event.

Besides, EuroCham is also partnering with Schoolab to launch the Sustainable Innovation Lab at GEFE 2022. Students from leading universities in Asia and Europe will join forces with businesses to develop solutions to real-world business, environmental, and social problems. For the success of all participants, Schoolab, academic institutions, experts, and business professionals will provide mentoring services.

GEFE 2022 is being jointly supported by the Delegation of the European Union to Vietnam, EuroCham’s nine affiliated national European business associations, European embassies, and governmental organizations, as well as the Vietnamese government and its ministries.

After 30 years of establishing diplomatic relations, Vietnam and Europe have made rapid progress in politics, economy, trade and investment, development cooperation, education, and science and technology, according to the Ministry of Industry and Trade.

Trade relations are considered an important premise to promote political cooperation and others activities between two countries on the basis of mutual benefits. Bilateral trade turnover achieved impressive growth even during the crisis period, with trade in goods increased more than fourfold, while trade in services more than doubled. Europe is Vietnam's largest export market, the largest ODA donor, and a leading investor in all economic sectors of Vietnam.

Giorgio Aliberti, Ambassador of the European Union to Vietnam said in the second year of implementation of the EU-Vietnam Free Trade Agreement (EVFTA), from August 2021 to July 2022, the total trade turnover reached $61.4 billion, up 11.9% from the first year of the Agreement’s enforcement.

Meanwhile, in the first seven months of 2022, the EU’s imported goods from Vietnam were up 28.8% year on year. Its goods exports to Vietnam surged 10.7% over the same period in 2021.

The EVFTA has actively facilitated the access of Vietnamese and European goods to each other's markets, meeting the supply diversification needs of both sides. The EVFTA tariff reduction incentives also help Vietnam improve its competitiveness and expand its market share in the EU, as well as access to high-quality products.