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| Overview of the Vietnam - EU Economic and Trade Forum 2023 taking place in Hanoi. |
On November 9-10, the University of Economics (Vietnam National University, Hanoi) in collaboration with the Krakow University of Economics (Poland), the Vietnam Union of Friendship Organizations (VUFO), and the Vietnam Business Association in the EU (VBAE) organized the Vietnam - EU Economic and Trade Forum 2023 (VEF2023). This is a gathering place for policy makers, scholars, and businessmen from Vietnam and the EU to exchange and discuss ways to promote trade and investment cooperation between the two regions.
The event was held to celebrate the 33rd anniversary of the establishment and development of diplomatic relations between Vietnam and the EU (November 28, 1990 - November 28, 2023), in both direct and online formats.
Vietnam – EU: Cooperation towards a prosperous, sustainable and harmonious future
Speaking at the forum, EuroCham Vietnam Vice President Claudia Anselmi said that the global landscape has changed significantly over the past few years, mainly due to geopolitical and economic confrontations. Economic and strategic competition between major countries and conflicts are the main causes of instability, leading to disruptions in the global supply chain.
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| EuroCham Vietnam Vice President Claudia Anselmi spoke at the forum. |
However, Vietnam has emerged as a beacon of resilience and opportunity. Vietnam’s strategic location, economic stability, young workforce and dynamic policies have all combined to make it a top destination for European companies. The EU-Vietnam Free Trade Agreement (EVFTA) and Vietnam’s remarkable resilience during the pandemic have enhanced its reputation as a supply chain powerhouse.
Despite difficulties caused by the Covid-19 pandemic and supply chain disruptions, trade and investment relations between Vietnam and the EU have recovered and grown well. The complementarity and connection of interests between the two sides are increasingly close.
Evidence of this trend is evident in the increasing investment from EU businesses in Vietnam. Many international retail distributors have identified Vietnam as an important global supply chain hub in order to diversify and strengthen their supply chains.
The EU is currently Vietnam's fourth largest trading partner (after China, the US and South Korea), the third largest export market and the fifth largest import market. Meanwhile, Vietnam is the EU's largest trading partner in ASEAN (two-way trade turnover in 2022 reached 62.4 billion USD). The EU is also the sixth largest investor in Vietnam with 2,535 active projects, with a total registered capital of more than 29 billion USD as of September 2023.
Promoting sustainable economic development, green economy through green transformation, digital transformation
In recent years, there has been a growing awareness of the need to deal with the environmental and social impacts of economic development, particularly in Asia. This has led to an increased focus on sustainable development in trade and investment, with both Europe and Asia trying to promote sustainable economic development through the adoption of green technology and the implementation of environmentally friendly policies.
The EU considers climate change adaptation as one of the three focuses of its Cooperation Program with Vietnam for the 2021-2027 period. Vietnam and the EU have also implemented many cooperation projects in the fields of green transformation, digital transformation, circular economy, sharing economy, institution building and improvement, human resource training, balanced energy transition, environmental protection, and climate change response.
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| Associate Professor, Dr. Nguyen Truc Le, Chairman of the Council of the University of Economics (Vietnam National University, Hanoi) spoke at the forum. |
Associate Professor Dr. Nguyen Truc Le, Chairman of the Council of the University of Economics (Vietnam National University, Hanoi) shared that over the past two decades, the EU has affirmed its position as one of the world's leading countries in supporting, promoting and applying policy initiatives related to sustainable development on a global scale.
The EU is always interested in funding sustainable development activities and projects in developing countries, including Vietnam. Vietnam is considered one of the countries most affected by climate change. The experiences of leading countries such as the EU are extremely valuable to the process of realizing the above goals in Vietnam.
Overall, the relationship between Europe and Asia and the relationship between Vietnam and the EU is one that is shaped by a range of economic, social and environmental factors. The rise of globalization, sustainable development and climate change response have played a major role in shaping this relationship, as both regions seek to balance their economic and strategic interests while simultaneously dealing with significant global challenges. As the world continues to change and new challenges emerge, Europe and Asia in general and Vietnam in particular will need to continue to cooperate to address these challenges and promote economic growth and sustainable development.
Lively discussion sessions
The forum includes 1 plenary session and 3 thematic discussion sessions. At the plenary session, speakers delivered three main presentations addressing different aspects of the economic and trade relationship between Vietnam and the EU. The three thematic sessions focused on 3 contents: Promoting Vietnam-EU economic relations; green economy and low-carbon economy policies in Vietnam and the EU; cooperation in education, culture, science and technology and innovation between Vietnam and the EU.
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| One of three roundtable discussions at the forum. |
The roundtable discussion took place enthusiastically and in-depth on issues that the Vietnamese and EU scholars, researchers, policy makers and businesses are interested in, such as bottlenecks that need to be cleared so that Vietnam can receive and absorb green FDI capital flows from the EU, to support SMEs on both sides to connect to global value chains, or solutions for Vietnamese businesses to better utilize tax incentives from EVFTA, etc.
On the second day of the Forum, three thematic sessions focused on three contents: Promoting Vietnam - EU economic relations; green economy and low-carbon economy policies in Vietnam and the EU; and cooperation in education, culture, science and technology and innovation between Vietnam and the EU.
In particular, the Organizing Committee launched a monograph with the theme: "Economic-Political Aspects of Europe-Asia Relations" edited by Associate Professor Dr. Nguyen Truc Le, Associate Professor Dr. Nguyen An Thinh (University of Economics, VNU), Associate Professor Dr. Ewa Ślęzak-Belowska and Associate Professor Dr. Marcin Salamaga (Krakow University of Economics, Poland). The book is published by the prestigious international publisher Springer Singapore.
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| Launching ceremony of the monograph with the theme: "Economic-Political Aspects of Europe-Asia Relations". |
This is a forum for researchers, managers and businesses from Vietnam and EU countries to present and discuss issues of development cooperation in the fields of economics, trade, climate adaptation and sustainable development between Vietnam and the EU in the current context.
Therefore, the Vietnam - EU Economic Forum 2023 is a place to share valuable experiences of EU experts and businesses on green and sustainable development, the issues, opportunities and challenges that Vietnam is facing. This will help to further strengthen understanding and relationships in many areas of trade, investment, scientific and technological cooperation, culture and education between the EU and Vietnam, towards perfecting a green economy and sustainable development in Vietnam in the coming years.
This forum is also an opportunity to open up new research cooperation between universities under the National University with research institutes, enterprises, development organizations, state management agencies of Vietnam and the EU.
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