Doors open for EU agri-food firms with lower tariffsEuropean enterprises are expected to intensify their agri-food presence in Vietnam thanks to slashed tariffs for EU-sourced agri-food items under the EU-Vietnam Free Trade Agreement. EVFTA is expected to help Vietnam attract more EU agri-food investment and products thanks to the reduction and elimination of tariffs by Vietnam for EU agri-food products, Ferrer said at a recent Hanoi-based meeting between EuroCham and Vietnamese government representatives. Forty-two EU agri-food firms came to Vietnam recently, in search of investment and business opportunities. It is expected that another wave of EU agri-food firms will come to the country in 2017, according to Phil Hogan, EU Commissioner for Agriculture and Rural Development. However, Hogan said under EU agri-food firms’ general business strategies, they will use Vietnam as their main consumer base, and from there they can boost exports to other ASEAN markets.

Source: VietNamNet News February 16, 2017 00:36 UTC