Formally ended Vietnam FTA talks - EU
02.12.2015, in Brussels (Belgium), with the presence of Vietnam Prime Minister
Nguyen Tan Dung and European Commission President Jean-Claude Juncker, Minister
of Industry and Trade Vu Huy Hoang and Vietnam Trade
Commissioner, European Union (EU) Cecilia Malmstrom signed the Declaration on
the formal conclusion of the negotiations the free Trade Agreement between
Vietnam and the European Union.
two sides affirmed, "This is the great historical moment and a special
mark 25th anniversary of diplomatic relations between Vietnam and the EU."
this result, Vietnam and the EU has made a significant step forward in the
process to strengthen political partnership and profound comprehensive between
Vietnam and the EU, especially trade relations and investment.
main contents of the Agreement are: Trade in Goods (wording of general
provisions and a commitment to open markets), rules of origin, customs and
trade facilitation, the safety measures food
and plant Health inspection service (SPS), technical barriers to trade (TBT),
trade in services (wording of general provisions and a commitment to open
markets), Investment and trade Remedies ,
Competition, state enterprises, government procurement, intellectual property
(including geographical indications), sustainable development, cooperation and
capacity building, Legal-institutional. The
agreement also includes a new approach, more progress on investment protection
and dispute settlement investments.
to the content has been made in the negotiations, the signing EVFTA helps
remove over 99% of tariff lines exported from Vietnam to the EU and vice versa,
for a period of 7 to 10 years. This
Agreement will open up opportunities to export products of Vietnam core such as
textiles, footwear, seafood to one of the regional economic development and
quality requirements, the world's highest technical .
addition to helping exports from Vietnam more favorable access to the markets
of the EU population of 500 million, EVFTA also creates advantages for EU
greatest impact to include the investment firms operating in the small and
medium industry sector auxiliary, a chain is considered to be very weak
industrial production in Vietnam, will have a big advantage when after EVFTA investment.
EU's first such agreement with a national reach is growing, is considered to
create a new platform compared to other agreements with other developing
EVFTA, the two countries have achieved liberalization and balanced, with a transition
period to Vietnam can adapt.
FTA creates opportunities to access new markets in the field of investment
services namely the liberalization of trade in financial services,
telecommunications, transport, postal and courier. Also
remove tariffs, Vietnam will also remove most of the export taxes. Vietnam
will also open their markets to the EU, through the lifting of restrictions or
slashed production of food, beverages and non-food. The
protection of geographical indications represent the leading agricultural
products have also been strengthened in EVFTA.
is the largest trading partner 2 and is one of two largest export market of
trade turnover between Vietnam and the EU has increased from US $ 17.75 billion
in 2010 to US $ 36.8 billion in 2014.
the first 6 months of 2015, total two-way trade reached US $ 19.4 billion, up
more than 11% over the same period of 2014. In particular, EU exports to $ 14.9
billion and imports from the EU reached $ 4.5
in the structure of trade between Vietnam and the EU is huge complementarity,
less competitive direct confrontation. The
group's main exports to the EU we are footwear, garments, coffee, furniture,
The EU is also the
largest investor in Vietnam. By
the end of the first 6 months of 2015, with 23 of the 28 EU countries have
invested in Vietnam with more than 2,100 valid projects, total investment
reached 38.4 billion registered USD. EU
investors were present at the most important economic sectors of Vietnam, most
concentrated in the industrial, construction and service sectors.
from May 6/2012, EVFTA has undergone 14 rounds of talks, lasted from January to
March 8/2015 10/2012. 4/8
days, the two sides announced the end of negotiations the basic content of the
nearly 4 months solve technical problems exist and finishing writing the
agreement, the two sides come together to sign the agreement as planned. After
the signing, EVFTA will also have to undergo ratification in Congress step
before formally applying.