Brussels (VNA) – Minister of Industry and Trade Tran TuanAnh had a working session with European Union (EU) officials to foster economicand trade cooperation and settle existing problems, thus speeding up the signingand ratification of a free trade agreement (FTA) between the bloc and Vietnam.
In a meeting between Anh and European Commissioner for Trade CeciliaMalstrom, the two sides agreed to continue efforts to reach consensus on thedeal.
They will work to re-structure the agreement to suit the proposal toseparate the investor-state dispute settlement (ISDS) issues to a new dealapart from the FTA, as the EU uses separate procedures to settle disputes thanto ratify FTAs.
Anh said that both sides also discussed solutions to finalise theagreement in early 2018.
With the separation of the deal, the FTA is expected to be completed andstart in 2018 or 2019, while the ISDS will be discussed and agreed in lateryears.
During his visit, Anh and Stefano Manservisi, EU Director-General forInternational Cooperation and Development, signed an agreement for the EU toprovide 108 million EUR (129 million USD) as non-refundable aid to Vietnam.
The funds will be allocated to 23 projects in power supply for 23 ruraland mountainous localities from 2018-2020.
Manservisi said that the support will help expand the renewable networkand resources for rural and remote areas, while reducing greenhouse gasemissions, part of measures to implement the agreement reach during the ParisClimate Change conference.
During his stay, Anh also worked with some European businesses toencourage them to partner with Vietnamese firms.-VNA
VNA