Economic fields Clause Samples

Economic fields. The EU is one of the leading investment and trading partners of Vietnam. Trade has been increasing rapidly - and most EU member states have invested in Vietnam. Trade is one of the important pillars in Vietnam – EU relations. Within the period 2000 – 2010, bilateral trade increased 4.3 times, from $4.1 billion in 2000 up to $17.75 billion in 20101, reaching $24,29 billion in 2011, a 36.88% increase compared to 2010. In 2011, Vietnam exports to the EU reached $16.55 billion, (a 45.32% increase) while imports from the EU reached $7.75 billion (a 21.79% increase in comparison with 2010). Two-way trade in the first 7 months of 2012 reached $15.47 billion, increasing by 20.39% in comparison to the same period of 2011 -Vietnam exports to the EU reached $10.91 billion, increasing by 23.73% while imports from the EU reached $4.56 billion, a 13.07% increase. At present, the EU is one of Vietnam’s biggest trading partners, the second biggest export market (after the US) and a relevant market for key products of Vietnam such as leather, shoes, textiles, green bean coffee, wood products, seafood, etc. Vietnam imports mainly machines, equipments, pharmaceuticals products, fertilizer and transport vehicles from the EU member states. Bilateral trade is complementary. Vietnam’s exports to the EU have been shifting from lower quality goods and raw agricultural products to higher quality products. In the field of investment: EU is one of the leading investors in Vietnam. Until June 2012, 20 out of 27 EU member states have invested in Vietnam with 1.188 valid projects with a total registered capital over $18 billion. Vietnamese businessmen have also invested in at least 12 EU member states (Belgium, Bulgaria, Czech Republic, France, Germany, Greece, Italy, 1 In 2006, Vietnam – EU trade reached $10.2 billion, about 2.5 times the trade in 2000, 5.1 times in comparison with 1999 and 7.39 times in comparison with 1995. Netherlands, Poland, Spain, Sweden and, U.K) with a total registered capital of $35.9 million. $11 billion between 1996 – 2010 (disbursement of over $5 billion), making positive contributions to Vietnam’s economic and social development progress.
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