Carsten Schittiek, Minister Counsellor, Head of the Trade Section of the EU Delegation to Vietnam addresses the event. (Photo: VNA)

HCM City(VNA) - Experts gathered at a forumcin Ho Chi Minh City on August 24 todiscuss export and investment opportunities generated by the EU-Vietnam FreeTrade Agreement (EVFTA) through sustainable development.

Vo Tan Thanh, Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), said thatafter two years, two-way trade between Vietnam and the EU rose 14.5% in 2021 to57 billion USD.

In the first six monthsof 2022, the figure reached 31.7 billion USD, up 14.6% year-on-year, he noted,adding that an upturn has been seen in investment from the Netherlands (26%),Sweden (63%), and Denmark (240%).

Lego Group of Denmarkhas recently invested in a 1 billion USD project in southern Binh Duong province, saidThanh.

He held that the resultshave shown the positive contributions of the EVFTA to Vietnam's economicdevelopment, especially in the context that Vietnam has suffered many negativeimpacts from COVID-19 and the Russia-Ukraine conflict.

However, Thanh also pointedto a number of aspects that V🅷ietnam has yet to optimise from the deal,including limitations in the implementation of social welfare, environmentalprotection and sustainable development policies, which are important parts ofthe EVFTA.

Ingrid Christensen, Director of ILO Vietnam, speaks at the forum. (Photo: VNA)

For his part, CarstenSchittiek, Minister Counsellor, Head of the Trade Section of the EU Delegationto Vietnam, hailed Vietnam’s efforts in the implementation of the EVFTA,especially the country’s strong commitments through the integration andamendment of many relevant laws, thus bringing great economic benefits toVietnam and other EVFTA members.

Schittiek recommendedthat Vietnam create a more simplified economic climate to attract investmentfrom European businesses, with greater attention to policies in sustainabledevelopment, green energy, climate change adaptation, and labour rightsin accordance with International Labour Organisation (ILO) conventions.

By bringing more largeinvestors as well as new knowledge and technical expertise to Vietnam, the dealcan help the country to focus on new, higher quality and cleaner investment toreinforce its global supply chains, he said. 

Meanwhile, IngridChristensen, Director of ILO Vietnam, commented that Vietnam has moved closertowards common global standards since the EVFTA took effect two years ago.

She lauded Vietnam'scommitments to managing labour relations and ensuring the rights of employees.

Highlighting thesignificance of labour and employment in the current period, she advisedVietnamese businesses and the Government to work together to deal with difficultiesand challenges.

Parti🍬cipants at theevent also discꦍussed issues related to responsible business and sustainabledevelopment, while updating new regulations in some European countries./.