The cooperation memorandum signed between Vietnam and France will promote and strengthen bilateral economics and trade as well as the multilateral framework between ASEAN and the EU.
| Department of Trade Promotion (Ministry of Industry and Trade) and Business Trade Agency France in Vietnam signed a Memorandum of Cooperation. |
On the afternoon of April 25, at the headquarters of the Ministry of Industry and Trade, the Department of Trade Promotion and French trade agency in Vietnam – Business France has signed a Memorandum of Cooperation.
This signing will further promote and strengthen bilateral economic and trade cooperation as well as within the multilateral framework between ASEAN and the EU, bringing great benefits to Vietnam and France.
Mr. Oliveier Brochet, Ambassador Extraordinary and Plenipotentiary of France to Vietnam, shared: “The signing of the Memorandum of Understanding on trade and investment cooperation with Vietnam is a highly anticipated event for the business communities of the two countries.”
Furthermore, with their geopolitical position in the region and the world, Vietnam and France still have much room to increase bilateral trade.
“The foundation of the sustainable political and diplomatic relationship between the two countries along with the strong development in economic relations is a premise that contributes to building the Vietnam – France partnership in many fields,” Ambassador Extraordinary and Plenipotentiary of France in Vietnam, Oliveier Brochet emphasized.
According to Mr. Vu Ba Phu, Director of the Department of Trade Promotion (Ministry of Industry and Trade): “50 years of establishing diplomatic relations and more than 10 years of strategic partnership between Vietnam and France have recorded progress.” developing very well, creating momentum for economic and trade cooperation.”
Regarding trade, France is currently Vietnam’s 5th largest trading partner in Europe and a market that accounts for a large proportion of trade relations between Vietnam and Europe. Vietnam – France trade turnover achieved positive growth with an average growth rate of 15.7%/year in the period 2011-2019.
In 2023, due to inflation and economic difficulties in France, Vietnam’s exports will be greatly affected. Two-way import-export turnover in 2023 reaches 4.8 billion USD, down 9.9% compared to 2022. Of which, exports reach 3.17 billion USD, down 14.2%, and imports reach 1.63%. billion USD, down 0.1% compared to 2022.
In investment activities, France ranks 3rd among European countries (after the Netherlands and England) and ranks 16th out of 114 countries and territories investing in Vietnam, with 549 valid investment projects. , total registered investment capital reached 3.8 billion USD.
In the opposite direction, Vietnamese businesses have invested in 09 projects in France with a total investment capital of 3 million USD.
Tags: Signing Memorandum Cooperation Vietnamese trade investment
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