Vietnam, France hold high-level economic dialogue

08:19 | 28/01/2018 Cooperation

On January 24, the  Ministry of Planning and Investment held the Vietnam – France high-level economic dialogue in Hanoi under the chair of Deputy Minister of Planning and Investment Nguyen The Phuong and French Minister of State Jean-Baptiste Lemoyne.

At the event - VNS Photo

The high-level economic dialogue was an opportunity for both sides to highlight the importance of bilateral cooperation to date, especially this is the first year to mark the five year establishment of Vietnam- France strategic partnership and 45 year establishment of bilateral diplomatic ties.

At the event, Phuong said France is Vietnam’s top partner in EU, with Vietnamese and French businesses gaining footholds in each other’s markets, particularly concerning agricultural products.

Vietnam is willing to facilitate the import of French goods and work with the EU country in handling trade barriers, Phuong stated.

For his part, Jean-Baptiste Lemoyne also stressed the importance of bilateral cooperation and pointed to new investment and business opportunities to be brought about when the EU-Vietnam Free Trade Agreement comes into force.

Businesses from both countries will enjoy favorable conditions to actively expand business activities. He said France wants to share experience with Vietnamese partners in the sectors of transport, environment food, and banking.

The sides encouraged their business community to study the feasibility of investment in areas that see high demand in Vietnam, such as climate change adaptation, agricultural-rural development, and sustainable use of natural resources, smart city building, and oil refinery.

The dialogue reviewed a number of French projects in Vietnam, including the Hanoi urban railway No. 3, and put forth cooperative orientations for the future.

Last year, bilateral trade between Vietnam and France reached US$5.6 billion, up 11.6 percent from 2016, with Vietnam recording a trade surplus. In the past 10 years, France has sponsored many ODA projects, with total disbursed capital amounting to about 2 billion EUR.

Ngoc Binh