Vietnam-France senior council: new prospect for bilateral cooperation

Following French Prime Minister’s visit to Vietnam in November 2009, Senior Council for Development of Economic Cooperation between Vietnam and France (Vietnam-France Senior Council) held a meeting in Hanoi on the occasion of “French Week in Vietnam”. The meeting was co-chaired by MPI vice Minister Cao Viet Sinh and French Secretary of State for Foreign Trade Pierre Lellouche.

At the meeting, the two sides have agreed on measures to promote economic cooperation between Vietnam and France, especially in trade and investment. The two sides have also signed a joint statement on organization and activities of the Council.

The Council and its joint statement have been highly appreciated by businesses of the two countries. They open a new prospect for the successful cooperation between Vietnam and France in trade and investment.

Together with the meeting, a business forum was participated by 50 French small and medium sized enterprises and over 300 Vietnamese partners.

At the enlarged meeting of the Council, French businesses engaging in pharmaceuticals, high technology and industrial waste treatment have confirmed their business and investment plan in Vietnam.

Meanwhile, big French companies such as Sanofi-Aventis, Air Liquide and Oxindus disclosed that they have become crisis and will accelerate projects in Vietnam as many companies of other countries are focusing on Vietnamese market.

In particular, Citelum which has contracts with some Chinese cities on public lighting wishes also implement similar contract with Haiphong.

Co-chairmen of the Council also discussed on challenges of the two countries, especially on access to market and investment, and agreed on measures to improve investment environment, reduce trade barriers and promote bilateral economic cooperation in the coming years.

French side highly values public-private partnership (PPP) which is being promoted in Vietnam. Mr. Perrier Lellouche believes that with high economic growth rates in Vietnam, it is necessary to promote infrastructure to develop the economy. In particular, when the resources of the government are limited, it is optimal to promote PPP to mobilize other resources. France is experienced in developing PPP and is ready to share experiences with Vietnam. Meanwhile, French businesses also wish to be partners with Vietnam in PPP cooperation.

Speaking at a press conference after the meeting, Mr. Pierre Lellouche highly valued Vietnamese high economic growth in the past years. He said that GDP growth double in the past eight years has made Vietnam a strong economy in the region and the world. With such a growth, France hopes to become an important partner of Vietnam in the coming decade in trade and investment. To this end, Vietnam-France Senior Council should discuss on measures to lift barriers confronting businesses of the two countries on trade and investment.

Vietnam-France Senior Council was established in June 2005 on the occasion of the visit of the Secretary General of Vietnamese Communist Party and upgraded during the visit of French Prime Minister Francois Fillon in November 2009.

This is the third meeting of the Council and the goal is to increase economic and trade relations mainly by assisting businesses of the two countries. The fourth meeting will be held in Paris next year to review the success of the Council since its establishment. – VCCI

Tags: Vietnam France senior council