The eu should postpone the ratification of the euvietnam free trade agreement evfta until the government of vietnam shows concrete improvements in its deteriorating human rights record. The trade agreement seeks to deepen vietnams economic integration, facilitate trade liberalisation and improve the legal framework for enforcement of standards at both domestic and international level. Free trade agreement between the european union and the socialist. The euvietnam trade and investment agreements are the most. This study aims to analyse impact of vietnameu fta on bilateral trade of vietnam. Although the covid19 outbreak may delay the meeting, the approval of the agreement is a. Jean jacques bouflet eurocham vicechairman eu vietnam free trade agreement opportunities for businesses. Guide to the euvietnam free trade agreement european. Both agreements will be signed on 30 june 2019, in hanoi. Vietnam is the third partner in asia with which the eu has concluded an fta after the two more developed economies of south korea and singapore. The euvietnam free trade agreement was approved by the european parliament in february 2020 and is expected to be approved by the national assembly of vietnam at its meeting in mid2020. Reducing regulatory barriers and overlapping red tape.
Vietnam and the eu european external action service. The 140page agreement, which took almost five years to negotiate and put into effect, is highlytechnical and was. Euvietnam free trade agreement opportunities for businesses. The agreement presented in this document is not binding under international law. Sustainable impact assessment of the euvietnam free trade agreement p. The euvietnam free trade agreement is one of the most ambitious agreements the european union has ever negotiated with a developing country. The next step before the agreements can come into force is the ratification of the agreement by the national assembly of vietnam which is expected in may 2020.
The economic and social effects of the eu free trade agreement with vietnam. The text of the eu vietnam trade agreement presented in this webpage is the text at the end of the negotiation conducted by the european commission and is made public solely for information purposes. Vcn the vietnameu free trade agreement evfta is expected to come into effect in 2018. The euvietnam fta chances for european and vietnamese.
The impact of the euvietnam free trade agreement on the. As such, it sets a new benchmark for europes engagement with emerging economies. The ministry of industry and trade issued decision no. Apr, 2020 leveraging the eu vietnam free trade agreement for development april 2020. The european union and vietnam reached an agreement on a free trade deal after three years of negotiations. Evfta eu vietnam free trade agreement evn vietnam electricity corporation fdi foreign investment capital fta free trade agreement. The european union has concluded free trade agreements ftas and other agreements with a trade component with many countries worldwide and is negotiating with many others. Leading up to the conclusion of the euvietnam free trade agreement, the levels of trade between the two sides have been steadily increasing.
The european parliament ep on february 12 ratified the european union vietnam free trade agreement evfta and the eu vietnam investment protection agreement evipa. The european parliament ep on february 12 ratified the european union vietnam free trade agreement evfta and the euvietnam investment protection agreement evipa. Pdf this study investigates the exante impact of the proposed european union vietnam free trade agreement on vietnams footwear. The eu vietnam business coalition firmly supports the approval of the eu vietnam agreement, and we ask for your support of ratification of this free trade agreement in the inta committee on tuesday, 21 january. Euvietnam trade and investment agreements trade european. The most comprehensive fta ever, the evfta is expected to have direct, positive impact on the vietnamese economy through the strong promotion of commodity export as well as investment attraction. Etuc position on the eu vietnam free trade and investment protection agreements adopted at the executive committee meeting of 1718 december 2019. Vietnam bilateral trade agreement bta is a comprehensive document covering trade in goods, protection of intellectual property rights, trade in services, investment protection, business facilitation and transparency. Vietnam free trade agreement evfta heralds new chapter. The trade and investment agreements develop the commercial dimension of bilateral relations between the eu and vietnam that find their foundation and are governed by the eu vietnam framework agreement on partnership and cooperation pca that entered into force in october 2016. The european union and vietnam signed a trade agreement and an investment protection agreement on 30 june 2019. Vcn the vietnam eu free trade agreement evfta is expected to come into effect in 2018.
Vietnam free trade agreement evfta, which is heading to the european council and parliament for the final approval necessary for it to come into force, brings unprecedented advantages and benefits for vietnam and the eu. For eu companies, vietnam is a highly attractive place to do business, not just as a competitive production base with low labour costs and accessto the dynamic. Pdf the economic and social effects of the eu free trade. The agreement presented in this document is not binding under. Euvietnam free trade agreement and investment protection agreement most liberalized market access for service sectors and unmatched legal certainty latest update. The european parliament on february 12 ratified the euvietnam free trade agreement evfta as well as the euvietnam investment protection agreement evipa. Sep 24, 2018 eu vietnam trade and investment agreements free trade agreement.
Download guide to the euvietnam free trade agreement book pdf free download link or read online here in pdf. Read online guide to the euvietnam free trade agreement book pdf free download link book now. Vietnam has been split into two parts, an fta covering exclusive eu. The euvietnam trade agreement willeliminate over 99% of all tariffs, and partly remove the rest through limited zeroduty quotas, known as tariff rate quotas trqs. The fta, which is expected to enter into force in 2019, will bring. International economics the impact of the euvietnam. International economics the impact of the euvietnam free. For a comprehensive insight into the trade statistics between eu and vietnam refer to annex. By using a gravity model and a panel data analysis, we show that the reduction of tariffs in the framework of the. On 4 august 2015, after three years and several rounds of negotiation, the european union vietnam free trade agreement officially established principles for the basic content of the agreement. The euvietnam free trade agreement is a new generation of trade agreements between vietnam and 28 eu member states called evfta. It is the most comprehensive and ambitious free trade agreement ever concluded between the eu and a developing nation, and one which will open up huge new opportuni. Eu vietnam free trade agreement 3 both sides benefit from trade and investment ties the agreement aims to stimulate trade and remove many of the remaining barriers to investment.
Baker 3 vietnam and the eu as complementary partners the eu is a major trading partner of vietnam, with vietnamese exports reaching 22. A balanced and progressive trade policy to harness globalisation. The eu vietnam free trade agreement evfta is a newgeneration fta between vietnam and the eu 27. Guide to the euvietnam free trade agreement pdf book. Vietnam is the third partner in asia with which the eu has concluded an fta after the two more developed economies of. Pdf european unionvietnam free trade agreement and. The fta, which is expected to enter into force in 2019, will bring eu vietnam way trade and investment to new levels. Apr 08, 2020 the european parliament on february 12 ratified the eu vietnam free trade agreement evfta as well as the eu vietnam investment protection agreement evipa. The total trade value between the partners has almost quadrupled in the past ten years, increasing from 7. The text of the euvietnam trade agreement presented in this webpage is the text at the end of the negotiation conducted by the european commission and is made public solely for information purposes.
Once in force, the agreements will provide opportunities to increase trade and support jobs and growth on both sides, through. The euvietnam free trade agreement has zero concrete commitment on sustainable development. Mar 20, 2019 download guide to the euvietnam free trade agreement book pdf free download link or read online here in pdf. The free trade agreement between the eu and vietnam econstor. Etuc position on the euvietnam free trade and investment. This study investigates the exante impact of the proposed european union vietnam free trade agreement on vietnams footwear industry using the partial equilibrium model called software for. The european union eu promotes the free trade agreement with vietnam evfta as an important milestone of its trade. Pdf euvietnam free trade agreement evfta definition. Mar 29, 2019 the impact of the euvietnam free trade agreement on the uk. The impact of the euvietnam free trade agreement on the uk. On 4 august 2015, after three years and several rounds of negotiation, the european union vietnam free trade agreement evfta officially established principles for the basic content of the agreement. Jean jacques bouflet eurocham vicechairman euvietnam free trade agreement opportunities for businesses.
The european union negotiates free trade deals on behalf of all of its member states, as the member states have granted the eu has an exclusive competence to conclude. European union and vietnamese flags are seen at the signing ceremony of euvietnam free trade agreement at the government office in hanoi, vietnam june 30, 2019. It also completely contradicts the parliaments vote on the climate emergency. Pdf european unionvietnam free trade agreement and vietnam. European union and vietnamese flags are seen at the signing ceremony of eu vietnam free trade agreement at the government office in hanoi, vietnam june 30, 2019. Nov 21, 2017 according to the guide to the euvietnam free trade agreement, the vietnam agreement is the most ambitious and comprehensive fta that the eu has ever concluded with a middleincome country. On 25 june, the council adopted decisions on the signature of two agreements between the eu and vietnam. In december 2015 the european union and vietnam concluded a free trade agreement fta and investment protection agreement ipa. Ngos urge european parliament to postpone consent to eu.
Eu, vietnam sign free trade agreement world chinadaily. Views on the euvietnam free trade agreement youtube. On december 12th 2015, under the witnessing of vietnamese prime minister and european union commission, minister of trade and industry and eu trade commissioner have signed declaration about the official closure of negotiation for euvietnam free trade agreement evfta. Watch this video to know more about how the agreement. The european union and vietnam reached an agreement on. The agreements will be presented on the vietnamese side to the national assembly for ratification and on the eu side to the european parliament for its consent, as well as to the respective national parliaments of eu member states in the case of the investment protection agreement. The european union negotiates free trade deals on behalf of all of its member states, as the member states have granted the eu has an exclusive competence to conclude trade agreements.
Dear member of the european parliament, we are writing ahead of the february 11 th plenary vote on the euvietnam free trade agreement evfta and investment protection agreement ipa to urge you. Fta insight on the euvietnam free trade agreement fta insight february 2016 3 of this amount, 22. It will create a useful precedent in the field of trade and sustainable development for asean and the wider region. Etuc position on the euvietnam free trade and investment protection agreements adopted at the executive committee meeting of 1718 december 2019. Sep 15, 2017 the eu vietnam free trade agreement is one of the most ambitious agreements the european union has ever negotiated with a developing country. The joint statement, available on the ecs website, hailed the deal as the most ambitious free trade deal between the european union eu and an emerging economy to date, based on the joint commitment of the two sides to open, fair, and rulesbased trade liberalisation and economic integration.
Ttwto vcci fta summary of vietnameu free trade agreement. Le trieu dung, the official of multilateral trade policy trade and industry, vjepa would bring most benefits for vietnams agricultural products. Oct 17, 2018 the eu vietnam trade agreement willeliminate over 99% of all tariffs, and partly remove the rest through limited zeroduty quotas, known as tariff rate quotas trqs. On 22 may 2018, the council adopted conclusions addressing the way in which trade agreements are negotiated and concluded. The eu vietnam free trade agreement was approved by the european parliament in february 2020 and is expected to be approved by the national assembly of vietnam at its meeting in mid2020.
Instead, it encourages the relocation of manufacturing and production that will drive down salary levels, posing a risk to both european and vietnamese. The evipa is still subject to eu member ratification procedures and will likely enter force after the evfta is implemented. Euvietnam fta the euvietnam free trade agreement evfta has been concluded for some time, and business is eager to see it ratified and implemented now. Vietnam free trade agreement evfta heralds new chapter for vietnam eu relations. Evfta and transpacific partnership tpp are two of the largest new generation free trade agreements that vietnam s largest ever negotiated. After completing the threeyear negotiations of an euvietnam free trade agreement fta at the end of 2015, the eu looks forward to realizing the trade and investment principles established in the pca. The euvietnam business coalition firmly supports the approval of the euvietnam agreement, and we ask for your support of ratification of this free trade agreement in. The european union has described the euvietnam free trade agreement evfta as the most ambitious free trade deal ever concluded with a developing country. Jun 30, 2019 the european union has described the euvietnam free trade agreement evfta as the most ambitious free trade deal ever concluded with a developing country. Euvietnam free trade agreement 3 both sides benefit from trade and investment ties the agreement aims to stimulate trade and remove many of the remaining barriers to investment.
The report confirms that vietnam is an exportdriven economy, with 69% of gdp exported in 2008 64% in 2009 and 61% in 2005. Vietnam and eu sign milestone free trade agreement. Reflecting on the issue of child labour february 2019 ngoc diep tran1 euasia at a glance is a publication series about the. Ngos urge the eu to postpone vote on vietnam free trade. All books are in clear copy here, and all files are secure so dont worry about it.
Estimated tariff savings from the trade agreement between the eu. Euvietnam trade and investment agreements eerste kamer. Vietnam free trade agreement evfta heralds new chapter for. Text of eu vietnam investment protection agreement. The negotiations for the agreement officially finished in december. The free trade agreement fta will put eu exporters. Whilst the agreement has not yet been signed, the study has been conducted on the assumption that the agreement will enter into force by late 2019. Dear member of the european parliament, we are writing ahead of the february 11 th plenary vote on the eu vietnam free trade agreement evfta and investment protection agreement ipa to urge you. After 14 formal meetings, the evfta negotiation process was finalized on december 2, 2015. Euvietnam free trade agreement evfta is a new generation fta between vietnam and 28 european union member states. Euvietnam trade and investment agreements free trade agreement. After completing the threeyear negotiations of an eu vietnam free trade agreement fta at the end of 2015, the eu looks forward to realizing the trade and investment principles established in the pca.
Impact and policy implications for vietnam nguyen binh duongiiiiii abstract. Following the signatures, the agreements will be presented on the vietnamese side to the national assembly. Eu vietnam free trade agreement evfta is a new generation fta between vietnam and 28 european union member states. The european union and vietnam on sunday 30 june signed a longawaited free trade deal that will slash duties on almost all goods, an agreement that pushes back against a rising tide of global. Euvietnam fta legislative train schedule european parliament. Evfta and transpacific partnership tpp are two of the largest new generation free trade agreements that vietnams largest ever negotiated. The eu vietnam free trade agreement is a new generation of trade agreements between vietnam and 28 eu member states called evfta. Jun 25, 2019 on 25 june, the council adopted decisions on the signature of two agreements between the eu and vietnam. Council adopts decision to sign trade agreement press release, 06072018 council to start trade talks with australia and new zealand press release, 22052018 new architecture of trade agreements. I am convinced that the fta provides the right platform for increased trade and investment between us.
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