There is no obstacle to negotiations on Free Trade Area (FTA) agreements between the EU and ASEAN countries or between the EU and Vietnam based on the Market Regulation.
That was affirmed by EU Trade High Commissioner Karel De Gucht at a press briefing on the sidelines of the 42 nd ASEAN Economic Ministers’ Meeting in the central city of Da Nang on August 27.
Both the EU and Vietnam have seen rapid developments, relating to the latter’s meeting of the market-oriented economy’s criteria, he said, adding that those developments may be seen in the Market Regulation’s first criterion of “the government’s intervention in business decisions” that Vietnam has already met.
Negotiations for the ASEAN free trade regulations will help Vietnam satisfy market regulations set by the EU. So far, the EU has recognised that Vietnam meets one fifth of the Market Regulation’s criteria.
Karel also said a working team-level meeting on the market-oriented economy for Vietnam will take place in Hanoi this September.
Regarding the prospects for the EU-Vietnam FTA negotiations, Karel said Vietnam and the EU are studying major contents to be put on the table and the study period will end later this year.
He said at present, the EU and Vietnam are preparing for the ninth negotiation round for the Partnership and Cooperation Agreement (PCA) scheduled for September, in order to complete the signing of the agreement later this year.
The two sides agreed on 50 out of 60 articles during the eighth negotiation round, he added.
The Commissioner noted that the EU wants to have closer political and economic ties with ASEAN as it is becoming one of the world’s most dynamic regions.
The EU and ASEAN people will benefit from the two blocs’ tightened trade relations in the coming time, he said.
The EU is now ASEAN’s second trade partner after China with two-way trade reaching 118 billion EUR in 2009, accounting for over 5 percent of the EU’s total turnover. The EU is also the largest investor in ASEAN, making up 24.5 percent of the region’s total investment value.
The EU is also one of Vietnam ’s three largest donors with more than 1 billion EUR per year and one of the country’s leading trade partners with an annual two-way trade growth of 15-20 percent./.
That was affirmed by EU Trade High Commissioner Karel De Gucht at a press briefing on the sidelines of the 42 nd ASEAN Economic Ministers’ Meeting in the central city of Da Nang on August 27.
Both the EU and Vietnam have seen rapid developments, relating to the latter’s meeting of the market-oriented economy’s criteria, he said, adding that those developments may be seen in the Market Regulation’s first criterion of “the government’s intervention in business decisions” that Vietnam has already met.
Negotiations for the ASEAN free trade regulations will help Vietnam satisfy market regulations set by the EU. So far, the EU has recognised that Vietnam meets one fifth of the Market Regulation’s criteria.
Karel also said a working team-level meeting on the market-oriented economy for Vietnam will take place in Hanoi this September.
Regarding the prospects for the EU-Vietnam FTA negotiations, Karel said Vietnam and the EU are studying major contents to be put on the table and the study period will end later this year.
He said at present, the EU and Vietnam are preparing for the ninth negotiation round for the Partnership and Cooperation Agreement (PCA) scheduled for September, in order to complete the signing of the agreement later this year.
The two sides agreed on 50 out of 60 articles during the eighth negotiation round, he added.
The Commissioner noted that the EU wants to have closer political and economic ties with ASEAN as it is becoming one of the world’s most dynamic regions.
The EU and ASEAN people will benefit from the two blocs’ tightened trade relations in the coming time, he said.
The EU is now ASEAN’s second trade partner after China with two-way trade reaching 118 billion EUR in 2009, accounting for over 5 percent of the EU’s total turnover. The EU is also the largest investor in ASEAN, making up 24.5 percent of the region’s total investment value.
The EU is also one of Vietnam ’s three largest donors with more than 1 billion EUR per year and one of the country’s leading trade partners with an annual two-way trade growth of 15-20 percent./.
