At
a press conference on October 30th in Vietnam informed of
important agreements between Vietnam and European Union (EU), Mr. Bruno Angelet
– Ambassador, Head of Delegation of the European Union (EU) said that early
August 2015, the EU and Vietnam has announced the conclusion of negotiations
but the negotiation group continues to resolve the remaining technical issues,
while improving documents.
Once
completed, the Agreement must be approved by the National Assembly of Vietnam,
the Council and the European Parliament. Accordingly, Vietnam and the EU will
eliminate over 99% of import tariffs.
For
the few remaining tariffs, both parties will grant each other tariff quota or
tariff reduction. This can be seen as the highest level of commitment that
Vietnam has achieved in the FTA has been signed so far.
In
the investment sector, the commitments to ensure an open business and
investment environment to help promote high quality investment flows of both
the EU and other partners in Vietnam. Thus, Vietnam has the opportunity to
become the connection for trade and investment activities between EU and other
countries in the region.
In
addition, the commitments related to investment, liberalization of trade,
service, Government procurement and intellectual property protection… will also
open up opportunities for both sides to approach each other’s market sand ensure
balance overall benefit.
EU
can become the best partner in the future of Vietnam because Vietnam is also
becoming one of the most dynamic countries and have good relationship with EU
in the region. EU can support Vietnam in many fields such as governance models
and provide excellentservices in the field of infrastructure,
training and education, the judiciary and law, health, social insurance and
sustainable energy.
Further information
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