A factory of the Lam Giang Yarn Company (Photo: VNA) Hanoi (VNA) –Bernd Lange, Chairman of the European Parliament’s Committee on InternationalTrade, has said he expects the European Union-Vietnam Free Trade Agreement(EVFTA) to be signed at the Asia-Europe Meeting Summit in October or sometimein November this year.
At a press meeting in Hanoi on July 27, Lange,who is on a working trip to Vietnam, said the EVFTA has now been finalisedafter a series of efforts to solve technical problems. It is now ready to betranslated into the 24 official languages of the European Union (EU) and sentto the 28 member countries for consideration.
With regard to the ratification of the deal, hesaid this is the responsibility of both sides, adding that he hopes theratification will be finished within this term of the European Parliament,which will end around March or April 2019.
He noted that during his visit to Vietnam, hemet with leaders of the Vietnamese Government to discuss such issues as reformsof the Labour Code and amendments to the Trade Union Law.
The two sides need to make efforts to solveoutstanding problems while the European Parliament considers and ratifies thisagreement, the official added.
The EVFTA will bring about a number ofopportunities for both the EU and Vietnamese businesses, thus supporting the developmentof both sides in the long run, Lange affirmed.
He also said that he is impressed with Vietnam’srecent stable economic growth, with its average GDP growth rate of over 6percent.
This agreement will offer Vietnam a chance tograsp better access to the EU market and attract more FDI from the EU, he said,adding that this is of interest for both sides.
Lange also told the press that there are certainchallenges that the EU and Vietnam need to handle, including how to improve awarenessamongst businesses, especially small- and medium-sized enterprises, of theEVFTA’s benefits. Not many small- and medium-sized firms really understand thedirect benefits of this trade pact, and so the two sides should assist companiesin capacity building. –VNA
VNA
