The European Parliament Committee on International Trade on October 10 held an opening hearing on the Free Trade Agreement and the Investment Protection Agreement between Vietnam and the European Union.

 

 

Addressing the event, Head of the Vietnamese delegation, Deputy Minister of Industry and Trade Tran Quoc Khanh, said Vietnam is integrating into the world as it has joined many international conventions and has trade partnerships with many countries.

Amid increasing protectionism, Vietnam firmly supports multilateral relations based on consistent principles, he stressed.

While confirming Vietnam and the EU are big partners, Khanh said the EU has supported Vietnam in promoting development and reducing poverty, and that the two sides are moving towards a more comprehensive relationship.

He noted the benefits brought by the agreements, from boosting trade exchange and fostering investment of European countries into various spheres, to helping Vietnam improve its standards to conform with international ones.

Under the roadmap, the European Commission will send a dossier to the European Council to ask for authorisation to sign the EVFTA.

After signing, the agreement will be submitted to the European Parliament for approval. The parliament can adopt the agreement ahead of the new European parliamentary elections scheduled for May 2019.-VNA