The European Parliament has ratified the EVFTA and the EVIPA. The ratification has opened up new horizons for more intensive, comprehensive and effective bilateral cooperation 30 years after the establishment of diplomatic ties.
Under the agreement, Vietnam will cut 65 per cent of import tax on EU commodities after the deal takes effect, while the rest will be erased over a 10-year period. Meanwhile, the EU will cut more than 70 per cent of tariffs on Vietnam’s commodities after the deal takes effect, while the rest will be abolished over the seven. subsequent years.
According to a research by the Ministry of Planning and Investment, the two deals will help Vietnam increase its GDP by 4.6 percent and its exports to the EU by 42.7 percent by 2025. Meanwhile, the European Commission has projected the EU’s GDP to increase by 29.5 billion USD and its exports to Vietnam by 29% by 2035.
The two agreements are expected to be ratified in the upcoming session of the Vietnam's Nation Assembly in April-May. They are likely to come into effect from July this year in Vietnam./.
The International Labour Organisation (ILO) office in Vietnam on February 12 said it welcomes the European Parliament’s ratification of the European Union – Vietnam Free Trade Agreement (EVFTA) in Paris earlier the same day, which is expected to bring economic benefits to both sides.
The European Parliament (EP) on February 12 ratified the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA).
The European Parliament (EP) on February 12 ratified the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA).
Member of the European Parliament (EP) Geert Bourgeois has hailed the EP’s February 12 ratification of the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA), saying they aim at developing a mutually-beneficial partnership.
The EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA), which were ratified by the European Parliament (EP) on February 12, offer significant business opportunities for European enterprises, German Federal Minister for Economic Affairs and Energy Peter Altmaier has said.
The European Parliament (EP) on February 12 ratified the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA). The trade pacts help Vietnam enhance its role in the world arena.
The recent ratification of the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA) by the European Parliament (EP) has both strategic and economic importance in the relations between Vietnam and the European Union (EU), Permanent Deputy Foreign Minister Bui Thanh Son has said.
The European Parliament’s ratification of the European Union – Vietnam Free Trade Agreement (EVFTA) on February 12 will open up a golden opportunity to improve value chains, said President of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc.
Media reports in the Czech Republic have highlighted the importance of the EU-Vietnam Free Trade Agreement (EVFTA) for the country and the EU in general after the agreement was approved by the European Parliament (EP) on February 12.
Prime Minister Nguyen Xuan Phuc described the European Parliament’s ratification of the EU-Vietnam Free Trade Agreement and EU-Vietnam Investment Protection Agreement as a great event of the year that marks the 30th anniversary of Vietnam-EU diplomatic relations.
The Government is set to issue a decree on the lists of preferential export tariffs and special preferential import tariffs to implement the EU-Vietnam Free Trade Agreement (EVFTA) when the deal comes into force in Vietnam.