Hogan describes EU-Vietnam trade potential as a “win-win” for both sides

The potential for increased trade between the EU and Vietnam is a “win-win” for businesses from both sides, European farm commissioner, Phil Hogan, told a high level government and business seminar in Hanoi earlier today.

Speaking during the Vietnam leg of an EU-backed export trade mission to Asia which also features visits to Hong Kong and Indonesia, the Commissioner promised that EU companies, including many from the poultry sector, will back their future trade involvement in the country by investing in added value goods and services.

“The 42 companies and organisations which have joined this mission have a combined turnover of €170 billion (£150bn),” he said, adding that he definitely didn’t see future EU-Vietnam trade as a “one-way street”.

“The good news is that in many areas we are not competing with each other. As such, our message today is that these 42 businesses are ready and willing to invest in Vietnam and that they will also provide the country with the highest standards of products possible in the agricultural and food area.”

The mission is being held, of course, against the background of officials from the EU and Vietnam working together to introduce an already agreed free trade agreement (FTA) which was signed by the two sides at the end of 2015 and is scheduled to come into force early in 2018.

“We are very hopeful that the FTA will result in a considerable amount of economic activity to the benefit of all the people of the EU and Vietnam,” said Commissioner Hogan.

EU poultry interests are represented on the Vietnam mission by the European Live Poultry and Hatching Egg Association (ELPHA); the European Poultry Breeders (EPB); AVEC (LDC Group France/ FIA Paris); DOUX SA, France; Landgeflügel FG Vertriebsgesellschaft, Germany; the Dutch Association for Poultry Processing Industries (NEPLUVI), Netherlands; and Krajowa Rada Drobiarstwa – Izba Gospodarcza (The National Poultry Council – Chamber of Commerce), Poland.

Headline image shows Commissioner Hogan (left) with the Prime Minister of Vietnam, Nguyen Xuan Phuc, meeting in Hanoi today

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