The Belgian-Vietnamese Alliance (BVA) launched as a chamber of commerce and industry for Belgium, Luxembourg and Viet Nam on Tuesday.

It was recognised as a member of the Federation of Belgian Chambers of Commerce on January 1.

At the debut event in Brussels, BVA President Andries Gryffroy said with its new functions, the entity will become a trustworthy partner of institutions and enterprises to develop an international business network and offer useful links for legal, economic and investment information.

Noting the alliance’s focuses in 2019, he said it would continue helping businesses learn about the content, signing and ratification of the EU-Viet Nam Free Trade Agreement (EVFTA) and the Investment Protection Agreement (IPA), along with business and investment opportunities for both sides’ firms.

The BVA will also provide language support for Belgian companies that want to invest and do business in Viet Nam.

Vietnamese Ambassador to Belgium and Luxembourg and head of the Vietnamese Delegation to the EU Vu Anh Quang said after being signed and ratified, the EVFTA and the IPA will open up more chances for Vietnamese businesses to strengthen partnerships with those of Belgium and other EU member countries.

Echoing the view, head of the EU Delegation to Viet Nam Ambassador Bruno Angelet said 90 per cent of transactions between Viet Nam and the EU will be exempted from different taxes after 10 years, so there is huge potential for promoting bilateral trade and investment.

Founded in 2011, the BVA has made efforts to strengthen co-operation between Belgium and Viet Nam in economic, cultural and social aspects. With its new functions, the alliance is expected to better serve as a bridge linking businesses of Viet Nam, Belgium and Luxembourg. – VNS