Vietnam and the European Union (EU) have finished the legal review process for their free trade agreement (FTA) and reached agreement on the entire of the bilateral investment protection deal.
The EU-Vietnam Friendship Parliamentians’ Group and the European Institute for Asian Studies, held a workshop in Brussels to speed up the signing and ratification of the EU-Vietnam Free Trade Agreement (EVFTA).
During the fifth round of negotiations between the two nations in Jerusalem, trade in goods, rules of origin, customs, technical barriers to trade, services, investment and other legal and institutional issues were tabled.
Dozens of organisations including rights groups and pro-democracy activists have urged the European Union to reject a proposed free trade agreement with Vietnam, accusing the one-party state of being among the “worst enemies” of human rights.
Ambassador of Vietnam to Pakistan Pham Hong Kim says Vietnam and Pakistan were actively considering signing ‘Free Trade Agreement’ to boost bilateral trade between the two countries.
Deals are being finalized with South Korea, Vietnam, India, China and Eurasian Customs Union.
The Vietnamese envoy to India pointed out that trade between India and Vietnam is languishing at around one percent of the total trade done by both countries.
Vietnamese Prime Minister Nguyen Xuan Phuc wants to expand a
renewed version of the Trans-Pacific Partnership trade pact to include the
US and other countries to drive global economic growth and fight the rising
tide of protectionism.
The European sporting goods industry has called for the swift ratification of the EU-Vietnam free trade agreement that will see the removal of more than 99% of tariffs on goods traded between the two economies.
In 2018, the Trump administration will continue efforts to build stronger, better and fairer trading relationships with Japan, Vietnam, Malaysia, New Zealand and Brunei.
The European Union is currently negotiating a series of new free trade agreements that would have a negative impact on consumer rights, environmental standards and democratic principles.
As 2018 brings newer and bigger free trade agreements (FTAs), Vietnamese enterprises are faced with tough choices. They can either adapt and move up the global supply chain, or stand by while imported goods flood the country’s market.
Tokyo’s point man travelling to Vietnam, Mexico to seek consensus on outstanding issues.
Japan, Indonesia, Vietnam, the Philippines in the Pacific region are among the countries in the list to start a dialogue on Preferential Trade Agreement (PTA) which will pave the way towards FTA for promoting trade liberalization.
The FTA is expected to be completed and start in 2018 or 2019, while the ISDS will be discussed and agreed in later years.
There are several issues related to sustainable development that need further assessment, but the two sides are working very hard to sign the agreement as early as next summer.
Negotiators met for two days in the Japanese capital, Tokyo, to discuss what parts of the original deal they wished to shelve.
Japan is seeking to make minimal changes. Vietnam has proposed to amend the clause on rules of origin in exports of fabrics, the sources said.
Quicker consensus on rules to suspend could bring broad deal in November.
Officials from 11 of the 12 countries that committed to the Trans-Pacific Partnership (TPP) trade deal are meeting in Sydney for talks to re-energize the stalled agreement and discuss amendmends to the pact following the withdrawal of the US.