Fruitful dialogue on EVFTA and EVIPA
On December 8, 2023, the Vietnamese Embassy in the Netherlands, in collaboration with the Dutch Business Association Vietnam (DBAV), organized “Meet Ambassador Ngo Huong Nam,” focusing on the themes “EVFTA: Significant Growth in Bilateral Trade after 3 Years of Implementation” and “EVIPA: A Solid Foundation for Investment Cooperation Activities of Dutch Businesses in Vietnam.”
The purpose of the “Meet Ambassador” event was to foster dialogue between the Embassy and Dutch and Vietnamese businesses. This year’s event, eagerly anticipated by many companies due to its impact on their operations in Vietnam and the Netherlands, saw the participation of Mr. Gabor Fluit, Chairman of the European Chamber of Commerce in Vietnam (EuroCham), along with regional representatives from the Dutch Ministry of Foreign Affairs, Netherlands Enterprise Agency (RVO), NLinBusiness, PUM, and over 50 Dutch businesses currently investing and conducting business in Vietnam, as well as Vietnamese businesses investing in the Netherlands.
Ambassador Ngo Huong Nam, during the meeting, provided a comprehensive review of the highlighted activities in 2023 between the two countries, marking the 50th anniversary of diplomatic relations. Notable events included the visit to the Netherlands by Vietnamese Prime Minister Pham Minh Chinh in December 2022 and the reciprocal visit to Vietnam by Dutch Prime Minister Mark Rutte in November 2023. The Ambassador also announced the upcoming State visit of His Majesty the King and Her Majesty Queen Máxima to Vietnam in March 2024, at the invitation of Vietnamese President Vo Van Thuong.
Reviewing the trade and investment cooperation between the two nations, Ambassador Ngo Huong Nam shared the significant achievements following more than three years of implementing the EU-Vietnam Free Trade Agreement. Bilateral trade between the Netherlands and Vietnam grew impressively, averaging 22% from 2020 to 2022. The Netherlands has become Vietnam’s second-largest trading partner and the largest investor in the EU.
Ambassador Ngo Huong Nam noted that, despite the positive sentiments of Dutch businesses regarding the favorable impact of the EU-Vietnam Investment Protection Agreement (EVIPA) on their investment activities in Vietnam, the Netherlands is among the ten countries yet to ratify the agreement. He expressed his hope that Dutch businesses, through the Dutch Business Association in Vietnam and the European Chamber of Commerce in Vietnam, would convey their opinions to the Netherlands Parliament and Government for the consideration of EVIPA ratification.
Supporting the Ambassador’s perspective on the benefits of EVIPA for Dutch and EU investors in Vietnam, Mr. Gabor Fluit, representing EuroCham, and Mr. Joost Vrancken Peeters, representing DBAV, emphasized the necessity of timely action from the business community, urging the Dutch Parliament to include EVIPA ratification on their agenda.
During the event, presentations by representatives from the Port of Rotterdam and a Dutch company exporting Vietnamese fresh fruit to Europe provided additional insights into bilateral trade activities, particularly Vietnam’s notable export growth facilitated by the EVFTA. The journey of VinFast, an electric car producer, driving from Vietnam to European countries, impressed all participants. They also acknowledged the Vietnamese government’s proactive role in maintaining macroeconomic stability, trade growth, inflation control, and fostering a favorable business investment environment for foreign investors, including those from the Netherlands.
The meeting concluded with a networking lunch hosted by the Embassy, featuring various Vietnamese cuisines.
