Centre opening brings EU business delegation

November 16, 2013 | 17:00

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Vice president of the European Commission Antonio Tajani inaugurated an assistance centre, the EU-Vietnam Business Network, on November 12 to further promote bilateral trade and investment.

Tajani’s trip last to Vietnam last week was aimed at helping European enterprises, particularly small and medium-sized, excel in this fast growing market. He said more EU companies were looking at Vietnam as a potential investment destination.

The Ho Chi Minh City based centre will support both European and Vietnamese companies.

Tajani was accompanied by 47 representatives from EU industry associations and companies and in notable sectors such as tourism, agri-business, and manufactured goods.

At a press conference in the southern hub he said that only 13 per cent of European SMEs had invested or done business outside Europe, and that the centre was aiming to change that.

Trade and investment between the EU and Vietnam has steadily grown in recent years with EU companies considering the country a high potential production base, as well as a lucrative and growing gateway to the wider and increasingly integrated ASEAN market.

During the ceremony, the delegation took part in a matchmaking event with local entrepreneurs to kick-start business to business information sharing and potential business leads.

Trade between Vietnam and the EU grows by 10-15 per cent per year, noted Vietnam Chamber of Commerce and Industry Ho Chi Minh City director Vo Tan Thanh.

After China, the EU is now Vietnam’s second biggest trade partner with an estimated deficit in 2012 of over €13 billion.

By By Tuong Thuy

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