Vietnam planning to sign Free Trade Agreement with the EU

Vietnam is planning to negotiate a Free Trade Agreement (FTA) with the European Union (EU) including 27 member countries.

With the commitment of widely and deeply opening the market of participants (such as completely eliminating for various import tariffs, opening services, issues on technical barriers and antidumping, etc.), if being signed, Vietnam-EU's FTA would surely have an enormous impact on the business prospects of the industries and Vietnam's economy, since the EU is one of Vietnam's largest trading partners.

For businesses and associations to have more information about the EU's intention, thereby have better preparation for their long-term business strategies as well as conduct appropriate advocacy activities with Vietnamese negotiation agencies, on March 2, the Vietnam Chamber of Commerce and Industry (VCCI), with the support of the Multilateral Trade Assistance Project (MUTRAP III), will hold a seminar called "Vietnam – EU FTA negotiation, opportunities and challenges for Vietnam".

At the seminar, predictions about the negotiation prospect to sign the Vietnam – EU FTA would be presented to delegates. In particular, Professor Claudio Dordi, an EU expert of MUTRAP III would talk about two important issues.

First, what Vietnam would learn from countries that have signed FTAs with the EU. Prof Dordi would analyse the objective of the EU while signing FTA; the commercial reality of the countries after signing FTAs with the EU and explanations; look at the examples of Chile, Mexico, and South Africa; lessons for Vietnamese government and businesses before the negotiation on Vietnam – EU FTA, relating to matters of tariffs, Sanitary and Phytosanitary Measures (SPS) - Technical Barriers to Trade (TBT), and trade defence; etc.)

Second, regarding the section on opportunities and challenges for Vietnam while signing FTA with the EU, Prof Dordi would thoroughly analyse the impacts on export-import and trade balance; prices, wages, investment, and specific impacts to a number of important economic sectors such as textile and garment, footwear, automobile, electronic and banking sectors.
from: http://www.intellasia.net

Posted in: Business