Update: 14:45 | 29/05/2020
The EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA) are expected to create new momentum for the comprehensive cooperative partnership between the two sides, Vice Spokesman of the Ministry of Foreign Affairs Doan Khac Viet has said.
At the ministry’s regular press conference on May 28, Viet responded to reporters’ questions about the National Assembly (NA) voting on the two agreements at the current ninth session.
Workers process tra fish for export. This commodity is a major foreign currency earner for Vietnam.
He noted that following active negotiations and close and effective coordination between Vietnam and the EU, the European Parliament ratified the two agreements on February 12. On March 30, the European Council approved the European Parliament’s ratification, finalising the EU’s internal legal procedures regarding ratification of the EVFTA.
The EVIPA, meanwhile, still requires ratification by the parliaments of member nations.
Viet said the two agreements are expected to generate considerable, concrete, and practical benefits for the economies, businesses, and people of both Vietnam and the EU, thus creating new momentum for the comprehensive cooperative partnership.
The NA is scheduled to consider and vote on the EVFTA and EVIPA at this ninth session, he added.