Vietnam and Belgium to hold 2nd Joint Economic Commission meeting

This JEC meeting underlines the strong willingness of both countries to further boost bilateral economic cooperation, as it also underlines the continuously increasing bilateral trade and investment.

Apart from reviewing the ongoing investment projects and concessional loan projects between the two countries, the meeting will also discuss indicative project proposals for the next period. The Belgian side will present new projects in Vietnam in various sectors, including transport, logistics, infrastructure, green technology, high technology and health. Particularly, both parties will discuss concessional credit funding and Belgium's Export Insurance Policy on Vietnam.

Belgiumis the 7th largest trade partner of Vietnam among European Union partners. Trade relations between Belgium and Vietnam have improved over the past 5 years. The total volume of trade between the countries amounted to EUR1.2 billion in 2012. Since 2010, concessional financing committed or considered for projects reaches an overall contract volume of over EUR200 million.

According to official statistics, in 2012, Belgium ranked 35th amongst international investors in Vietnam. The investments amount to USD136.9 million for about 40 projects.

On October 14, the signing ceremony of contracts and MOUs between Belgian companies and their Vietnamese partners will also take place, followed by the signing ceremony of the minutes of the JEC meeting by Vice Minister Dirk Achten and Vice Minister Nguyen The Phuong.

The first bilateral JEC meeting took place on 22 June 2011 in Hanoi, following the initiative of the Prime Ministers of the two countries in order to accelerate the bilateral relationship.

(Source: Dangcongsan.vn)