In his opening remarks at the forum, Mr. Bruno Jaspert, Chairman of EuroCham, offered a candid and inspiring perspective on Vietnam’s trade integration journey. He began by highlighting the transformative shift in global trade: from 98 free trade agreements (FTAs) valued at $7.5 trillion in 2000, the world now boasts 328 FTAs, with total trade quadrupling.
Within this landscape, Vietnam emerges as a “master of FTAs,” having signed and implemented 17 such agreements.
“After Singapore, no other Asian country has done better. This underscores a key point: Vietnam believes in free trade—believing it will unlock economic potential,” Mr. Jaspert stated in his opening remarks.
Citing trade growth charts, Mr. Jaspert noted that despite global economic shocks like the 2000 dotcom bubble, the 2008 financial crisis, the 2010 euro crisis, and the recent COVID-19 pandemic, Vietnam’s economy has maintained steady growth while global growth shows signs of slowing.
“Vietnam is just beginning its growth journey, and that’s remarkable in today’s world,” Mr. Jaspert observed.
Mr. Bruno Jaspert – Chairman of EuroCham
Regarding the EU-Vietnam Free Trade Agreement (EVFTA), the EuroCham Chairman revealed that within five years of its implementation, bilateral trade between Vietnam and the EU has grown steadily and robustly, reaching $298 billion. This accounts for nearly 40% of the total accumulated trade ($815 billion) over more than 30 years of cooperation since 1995.
“This proves that when two trading blocs collaborate, prosperity benefits both sides. It not only positions Europe as one of Vietnam’s largest trading partners but also establishes Vietnam as a major global trading partner,” the EuroCham leader remarked.
Beyond exports, the EuroCham Chairman emphasized the importance of importing technology and machinery—up 38% and 24% respectively last year—as indicators that Vietnam is “importing industrial footprints,” not just components for assembly. He sees this as clear evidence of Vietnam’s rapidly expanding industrial capacity and economic footprint on the global map.
As Vietnam enters its “Era of Aspiration,” Mr. Jaspert expressed admiration for Vietnam’s ambitious goals: net-zero emissions by 2050, 8% growth, and a place among the world’s top 15 economies.
“If any nation dares to declare such ambitions, it’s Vietnam. And I believe the goal of becoming a high-income country by 2040 shows Vietnam is striving for a better future for all,” Mr. Jaspert emphasized.
According to Mr. Bruno Jaspert, Vietnam excels as an “alternative destination” for investors seeking to diversify supply chains. Citing EuroCham’s survey, he noted that European business confidence in Vietnam has returned to pre-COVID levels, with 78% recommending investment and 88% planning expansions.
Concluding his speech, the EuroCham Chairman shared that Vietnam’s “resilience, tenacity, and ability to overcome adversity” have kept him invested in the country for years.
“That’s what gives Vietnam the strength to achieve its aspirations,” he concluded.
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