VIETNAM EU-TRADE AGREEMENT (FTA)
Vietnam and the European Union are currently in the final stages of negotiating a free trade agreement (FTA), which is likely to have a significant impact on the trade and investment relations between the two parties.
The EU Delegation to Vietnam has asked the European Chamber of Commerce in Vietnam (EuroCham) to prepare a position paper informing the EU negotiators about the expectations of the European business sector regarding the FTA.
Nicolas Audier, our Managing Partner and Executive Committee Member of EuroCham in charge of advocacy activities and Marijn Sprokkereef, associate of our firm, are actively involved in preparing this position paper. Over the past weeks, Nicolas and Marijn have closely cooperated with the EU Delegation and with representatives from the various EuroCham Sector Committees in order to draft a comprehensive and high-quality position paper.
The positive impact that the FTA may have can be anticipated by looking at the trade and investment figures. In 2013, the EU was not only one of Vietnam’s biggest trade partners with a total value of trade in goods of EUR 27.6 billion, it was also among the biggest investors in Vietnam, with 1,810 FDI projects.
Among other things, it is expected that the FTA will provide more opportunities for European investment and trade in Vietnam, for example by eliminating import duties on most EU goods and by providing increased access to Vietnam’s market for EU investors.
The FTA is expected to be concluded by the end of this year. For further information