31st Sea Games - Vietnam 2021 Covid-19 Pandemic
May 12, 2021 / 11:10

Vietnam seeks France’s speedy approval for EU – Vietnam investment deal

Greater support between the two governments are necessary to create room for two business communities to boost investment cooperation activities, State President Nguyen Xuan Phuc has said.

A speedy approval process for the EU – Vietnam Investment Protection Agreement (EVIPA) from the French parliament would ensure mutual benefits between Vietnam – EU in general and bilateral relations in particular.

 State President Nguyen Xuan Phuc at the phone talk. Photo: VNA

State President Nguyen Xuan Phuc raised the issue in a phone talk with his French counterpart Emmanuel Macron on May 11, expressing his thanks for France’s active contribution to boost EU – Vietnam relations, including the finalization of the EU – Vietnam Free Trade Agreement (EVFTA).

“Greater support between the two governments is necessary to create room for two business communities to boost investment cooperation activities,” said Phuc.

Phuc expected the French government to continue creating favorable conditions for the Vietnamese community in France during the Covid-19 pandemic.

France’s President Emmanuel Macron congratulated Phuc on his new position, while saying close linkage between the two peoples is key to improve the Vietnam – France strategic partnership.

Macron noted France’s priority is to further boost bilateral relations, a move fully supported by the Vietnamese President, especially as the 50th anniversary of Vietnam – France diplomatic relations is drawing near [2023].

The two leaders agreed to continue speeding up major projects, including those in Covid-19 fight, security-defense, investment, trade, transportation, aerospace, environment, culture and education.

By late 2022, the two countries are scheduled to jointly hold a cooperation conference between Vietnam-France’s localities.

At international front, the two leaders stressed the importance for two countries to support each other in multilateral forums, especially in the UN, Asia-Europe Meeting (ASEM) and between France-ASEAN.

Such cooperation is key to address global and regional issues, particularly in realizing sustainable development goals, adopting to climate change, keeping peace, stability, respecting international laws and the UN Convention on Law of the Sea (UNCLOS) 1982.

Data from the European-American Market Department under the Ministry of Industry and Trade revealed France has been one of Vietnam’s leading trade partners in the EU.

France has been Vietnam’s second largest fruit and vegetable export market in the EU (after the Netherlands only) and one of EU’s largest markets for these products.

In January 2021, Vietnam's exports to France reached over US$308.3 million, an increase of 28% year-on-year. Meanwhile, the country imported US$175 million worth of goods from France, an increase of 9.2%, making a surplus of US$133.3 million.