Deputy Foreign Minister Bui Thanh Son (R) hands over the dilomatic notes to head of the EU Delegation to Vietnam, Ambassador Giorgio Aliberti on June 18 (Photo: VNA) Hanoi (VNA) – Diplomatic notes informing aboutVietnam’s ratification of the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA) were presented to the EU Delegation toVietnam on June 18.
At the handover ceremony in Hanoi, Deputy Foreign Minister Bui Thanh Sonsaid the ratification of the two deals by the European Parliament in Februaryand the Vietnamese National Assembly recently strongly affirmed both sides’ wishand determination to continue intensifying the Vietnam-EU comprehensivecooperation and partnership.
He asked relevant ministries and sectors of Vietnam and EUagencies to continue working closely together to help the EVFTA take effectsoon, thus generating practical benefits for both sides’ people and businesses.
The official also called on EU member states to accomplish the ratification of the EVIPA as soon as possible.
For his part, Ambassador Giorgio Aliberti, head of the EUDelegation to Vietnam, congratulated the country on completing the approval of the EVFTAand EVIPA.
He described the two sides’ ratification of the agreements asa historic milestone which creates important frameworks for enhancing bilateraltrade and investment links, as well as multifaceted relations.
The EU will continue coordinating closely with Vietnam toeffectively implement the EVFTA and urge its members to ratify theEVIPA, he added.
The Vietnamese Ministry of Planning and Investment expectedthe EVFTA and EVIPA will help raise the country’s GDP growth by 4.6 percent andexports to the EU by 42.7 percent by 2025.
Meanwhile, the European Commissionestimated this region’s GDP will increase by 29.5 billion USD and exports toVietnam will rise 29 percent by 2035.
Under the EVFTA’s regulations, as the EU side alreadynotified Vietnam of its ratification of the agreement and Vietnam alsoofficially handed over diplomatic notes informing the EU about its move, thisdeal is going to take effect on August 1.
Meanwhile, the EVIPA will come into force after it sailsthrough parliaments of all EU member states./.
Under the EVFTA’s regulations, as the EU side alreadynotified Vietnam of its ratification of the agreement and Vietnam alsoofficially handed over diplomatic notes informing the EU about its move, thisdeal is going to take effect on August 1.
Meanwhile, the EVIPA will come into force after it sailsthrough parliaments of all EU member states./.
VNA
