MOSCOW – Việt Nam’s enterprises in foreign countries, especially Russia, should develop co-operation with enterprises in Việt Nam to take full advantage of free trade agreements signed between Việt Nam and foreign partners.

Deputy Prime Minister Trịnh Đình Dũng made the statement during a business forum held in Moscow on Sunday to promote co-operation between Việt Nam and Russia when the Vietnam – Eurasian Economic Union (EAEU) free trade agreement comes into effect on October 5 this year.

At the forum, a representative from Việt Nam’s Ministry of Industry and Trade (MoIT) discussed the advantages and disadvantages of the FTA between Việt Nam and EAEU.

The FTA would cut many tax lines for Vietnamese products exported to the EAEU, according to the MoIT representative. The enterprises could set up business relations with Vietnamese people living and studying in Russia to expand their business.

Việt Nam’s Ambassador to Russia Nguyễn Thanh Sơn said the FTA would create opportunities for Vietnamese enterprises at home and in Russia to promote production and business.

The free trade pact between Vietnam and the EAEU is expected to boost bilateral trade, investment and tourism, said Deputy Prime Minister Trịnh Đình Dũng. To fully benefit from the deal, the Vietnamese community in Russia should use more legal and transparent business models and increase the quality of products according to international standards.

He said cutting many tax lines would affect the businesses of Vietnamese people in Russia. Therefore, Vietnamese business households should move business activities from markets to trading centres and import goods directly from Việt Nam or become agencies of local enterprises.

Co-operation between Vietnamese enterprises in foreign countries and local enterprises would develop production and business in Việt Nam, said Dũng, adding that the Government would have the responsibility of solving difficulties in developing production and business.

Vietnamese businesses in Hungary

The 10th ​Conference of Vietnamese Businessmen in Europe took place in Budapest, Hungary from September 16-18 with the focus on the EU-Việt Nam Free Trade Agreement (EVFTA).

The highlight of the conference was a seminar on opportunities and challenges brought by the EVFTA on Saturday. Ambassador-head of the EU Delegation to Việt Nam Bruno Angelet made a speech on this issue at the meeting.

The conference was the biggest event for the Vietnamese entrepreneur community in Europe to exchange views and experiences on markets in the worlds and doing business.

 Held annually since 2006, it has brought together leading Vietnamese enterprises operating in Europe.

This year’s event featured the European Vietnamese Youth Business Alliance for the first time. - VNS