The EU – Vietnam Free Trade Agreement (EVFTA) and the EU – Vietnam Investment Protection Agreement (EVIPA) were officially signed in Hanoi on June 30 afternoon, in the witness of Prime Minister Nguyen Xuan Phuc, Vietnamese National Assembly and Government leaders, and leaders of the EU. (Photo: VNA)Brussels (VNA) – The EU-Vietnam Free Trade Agreement(EVFTA) will provide a cooperation framework, helping the two sides discussregulations, simplify customs procedures and build a mechanism to addresspotential risks, according to Pascale Rouhier,Secretary General of the EuropeanLiaison Committee for Agricultural and Agri-Food Trade.
In an interview granted to the Vietnam NewsAgency on June 30, Pascale said the deal would exert positive impacton Europe’s farm produce.
The EU hopes to get complete tax exemption ondairy products as stated in the agreement so that EU exporters can compete inan equal footing with New Zealand and hold competitive advantage over USrivals, she noted.
According to Pascale, EU businesses welcome theEU’s commitments to providing technical support for Vietnam in sanitary andphytosanitary measures (SPS), and food safety issues.
She said once the deal becomes effective, itwill promote trade activities in nuts, coffee, tea and seafood, and affirmedthat the European agri-food sector will urge the European Parliament (EP) toratify the agreement so that it will be put into force in early 2020.
Meanwhile, PierreGrönin, head of the Brussels Office of German Chemical Industry Association, said Vietnamcan meet requirements of the European market and import many products from theEU, especially chemicals. Therefore, the two sides supplement each othereconomically.
During the negotiations ofthe pact, European investments in Vietnam increased sharply, helping raise thecountry’s trade value, he said, noting European firms hope that the agreementwill be ratified in 2020.-VNA
VNA
