European Parliament's February 12 plenary session (Source: VNA) Paris (VNA) – Member of the European Parliament (EP) GeertBourgeois has hailed the EP’s February 12 ratification of the EU-Vietnam FreeTrade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement(EVIPA), saying they aim at developing a mutually-beneficial partnership.
Speaking to VietnamNews Agency correspondents in France, Bourgeois, a rapporteur of the Committeeon International Trade on the EVFTA and the EVIPA, stressed that the documentsare the most ambitious new-generation agreements the EU has signed with adeveloping country.
He described Vietnamas a rapidly developing and competitive economy and one of the most openeconomies in the Association of Southeast Asian Nations (ASEAN).
The ratification ofthe EVFTA is an important step towards the final goal of establishing a freetrade region between the EU and ASEAN, he stated, adding that the EVFTA,together with similar ones the EU has signed with Japan and Singapore, willtighten connectivity between the EU and Asia.
The two documents weresigned in Hanoi on June 30 last year. They include intensive, extensive andcomprehensive commitments covering the fields of economy, trade, investment andsustainable development issues.
At the EP’s plenarysession in France, the EVIPA was passed with 407 votes for, 188 against and 53abstentions; and the EVFTA, with 401, 192 and 40, respectively.
According to researchconducted by the Ministry of Planning and Investment, the two deals will helpVietnam increase its GDP by 4.6 percent and its exports to the EU by 42.7percent by 2025. Meanwhile, the European Commission has projected the EU’s GDP willincrease by 29.5 billion USD and its exports to Vietnam by 29 percent by2035.-VNA
VNA
