EVFTA: Opportunity for Vietnam-Netherlands trade cooperation

The event was jointly held by the Vietnamese Ministry of Industry and Trade (MoIT), and the Confederation of Netherlands Industry and Employers (VNO-NCW).

Deputy Minister of Industry and Trade Hoang Quoc Vuong highlighted the strong developments of the Vietnam-Netherlands trade and investment ties over the past time, and proposed ways to step up the links through optimising advantages of the EVFTA.

Lawyer Joost Vrancken Peeters, Chairman of the Netherlands Vietnam Chamber of Commerce, briefed the participants on the deal and outcomes of an online study on the demand for investment movement and supply persification of investors from the Netherlands and the EU.

The forum focused on issues regarding production, manufacturing, export-import, logistics, customs, visa and human resources.

According to the MoIT, the Netherlands is one of Vietnam’s two biggest export markets in the EU. Trade between the two countries reached nearly US$7.6 billion last year, with Vietnam’s exports to the European country hitting US$6.9 billion and its imports, US$661 million.

In the first seven months of this year, Vietnam exported more than US$3.83 billion worth of goods to the Netherlands, up 0.46% year-on-year, even in the context that Vietnam’s total export revenue to the EU dropped 5.96% in the period.