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| A production line of shoes for export at Hai Duong Footwear Joint Stock Company. Viet Nam's footwear exporters will enjoy a reduction in export tax for footwear exported to Russia. — VNA/VNS Photo Vu Sinh |
MOSCOW (Biz Hub) — Viet Nam's enterprises in foreign countries, especially Russia, should develop co-operation with enterprises in Viet Nam to take full advantage of free trade agreements signed between Viet Nam and foreign partners.
Deputy Prime Minister Trinh Dinh Dung made the statement during a business forum held in Moscow on Sunday to promote co-operation between Viet 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 Viet Nam's Ministry of Industry and Trade (MoIT) discussed the advantages and disadvantages of the FTA between Viet 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.
Viet Nam's Ambassador to Russia Nguyen Thanh Son said the FTA would create opportunities for Vietnamese enterprises at home and in Russia to promote production and business.
The free trade pact between Viet Nam and the EAEU is expected to boost bilateral trade, investment and tourism, said Deputy Prime Minister Trinh Dinh Dung. 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 Viet Nam or become agencies of local enterprises.
Co-operation between Vietnamese enterprises in foreign countries and local enterprises would develop production and business in Viet Nam, said Dung, adding that the Government would have the responsibility of solving difficulties in developing production and business.
In another development, the 10th Conference of Vietnamese Businessmen in Europe took place in Budapest, Hungary from September 16-18 with the focus on the EU-Viet 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 Viet 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