EU signs free trade agreement with Vietnam News DW..
The European Union on Sunday signed the EU-Vietnam Free Trade. paving the way for tariff reductions on 99% of goods between the.The European Union EU promotes the Free Trade Agreement with Vietnam EVFTA as an important milestone of its trade agenda. The agreement, whose part.EU-Vietnam trade Introduction. EU and Vietnam sign a free trade agreement FTA and an investment protection agreement IPA on 30 June 2019. It's the most ambitious FTA ever concluded with a developing country. FTA benefits. 99% of customs duties between EU and Vietnam will be eliminated. Value of trade. 50 billion - the value of trade in.The EU-Vietnam Free Trade Agreement is a new generation of trade agreements between Vietnam and 28 EU Member States called EVFTA. The EVFTA was. Tiền môi giới đưa lao động đi xuất khẩu. Overview On the 2nd of December 2015, after almost three years and 14 rounds of negotiations, President Donald Tusk, President Jean-Claude Juncker and Prime Minister of Vietnam Nguyễn Tấn Dũng announced the conclusion of the negotiations of the EU-Vietnam Free Trade Agreement (EVFTA).The EVFTA is a new-generation Free Trade Agreement between Vietnam and the EU.On 26 June 2018, the EVFTA was split into two separate agreement, one on trade and one on investment.In August 2018, EU and Vietnam completed the legal review of the EVFTA and the EU – Vietnam Investment Protection Agreement (EVIPA).
EU-Vietnam trade - Consilium
The Vietnam – EU Free Trade Agreement EVFTA, a new-generation free trade agreement between Vietnam and the EU's 28 member states, is a comprehensive and high-quality trade pact that is expected to bring a range of benefits to both Vietnam and the EU. For many years the EU has been the second.The European Parliament and the European Council should postpone the ratification of the proposed EU-Vietnam Free Trade Agreement until the Vietnamese government takes concrete steps to improve.Viet Nam News. PRESS RELEASE – 28 January 2019 Vietnam Free Trade Agreement EVFTA heralds new chapter for Vietnam -EU relations. The European Union − 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. Vietnam’s GDP is expected to increase by 10-15 per cent and exports are predicted to rise by 30-40 per cent in the next 10 years.Meanwhile, the real wages of skilled labourers could rise up to 12 per cent, while the real salaries of common workers could increase 13 per cent.Once the EVFTA is ratified and implemented, and once Government policies and institutional reforms begin to take effect, Vietnam’s business activities will boom. In this chapter, Euro Cham’s Legal Sector Committee will raise the issues relevant to their particular industries, and make specific recommendations in order to address these concerns.
Vietnam is already the EU's second-largest trading partner in Asean. Negotiations between the EU and Vietnam started in June 2012 and.MARKET ACCESS FOR EU SERVICE PROVIDERS. Although Vietnam’s World Trade OrganisationWTO commitments are used as a basis for thes ervices commitments, Vietnam has not only opened additional sub.The EU-Vietnam Free Trade Agreement EVFTA is a new generation FTA between Vietnam and 28 European Union member states. Terrence romeo trade san miguel. Meanwhile, exporters and investors from the EU will have further opportunities to access one of the largest and fastest-growing countries in the region.According to a report released in early 2017 covering 134 cities worldwide, Hanoi and Ho Chi Minh City are ranked among the top 10 most dynamic cities due to their low costs, rapid consumer market expansion, strong population growth and transition towards activities attracting significant amounts of Foreign Direct Investment (FDI).According to the World Bank, Vietnam has one of the fastest growing economies in the world—7.1% GDP growth in 2018, and 6.7% at the mid-point of 2019.To put that in perspective, Vietnam’s GDP is growing at almost twice the rate of the USA.
THE EU - VIETNAM FREE TRADE AGREEMENT EVFTA OPPORTUNITY AND.
European Commission - Press Release details page - European Commission - Fact Sheet Brussels, 04 August 2015 Today EU Trade Commissioner Cecilia Malmström and Vietnamese Minister of Industry and Trade Vu Huy Hoang agreed in principle on a comprehensive and ambitious trade and investment agreement.The PCA provides that human rights, democracy, and the rule of law are 'essential elements' in the overall relationship between the EU and Vietnam. Therefore, the link between the FTA and the PCA is important to ensure that human rights are also part of the trade relationship between the Parties.The new EU-Vietnam free trade agreement FTA shows the EU will look past human rights violations to push a trade agenda. But as FTAs with ASEAN states don't offer the EU the same economic benefits, it's unlikely the bloc will pen more in the near future. Tài khoản mt4 real không có forex trong metatrader. This thesis examines the bilateral trade between Vietnam and twenty three European countries based on a gravity model and panel data for years 1993 to 2004. Estimates indicate that economic size, market size and real exchange rate of Vietnam and twenty three European countries play major role in bilateral trade between Vietnam and these countries.European Commissioner for Trade Cecilia Malmstrom L, and Vietnamese Minister of Industry and Trade Tran Tuan Anh R sign the EU-Vietnam Free Trade Agreement in Hanoi on June 30, 2019.The trade and investment agreements develop the commercial dimension of bilateral relations between the EU and Vietnam that find their.
The remaining duties will be eliminated over the next ten years.This is an unprecedented, far-reaching tariff elimination for a country like Vietnam, proving its aspiration for deeper integration and trading relations with the EU.Meanwhile, the EU agreed to eliminate duties for 84 per cent of the tariff lines for goods imported from Vietnam immediately at the entry into force of the FTA. [[Within 7 years from the effective date of the FTA, more than 99 per cent of the tariff lines will have been eliminated for Vietnam.This is a wider reduction compared with the 95 per cent of the tariff lines that the former TPP countries offer to Vietnamese imports.In the ASEAN region, Vietnam is the top country exporting goods to the EU.
Impact of the Free Trade Agreement between Vietnam and the.
However, the market share of Vietnam’s products in the EU is still small.As a result of the EVFTA, the sectors set to benefit most are main export sectors that used to be subject to high tariffs from the EU including textiles, footwear, and agricultural products.The EU is also a good point for Vietnam to reach other further markets. Vietnam will benefit more from the EVFTA compared with other FTAs, since Vietnam and the EU are considered to be two supporting and complementary markets: Vietnam exports goods that the EU cannot or does not produce itself (i.e., fishery products, tropical fruits, etc.) while the products imported from the EU are also those Vietnam does not produce domestically, including machinery, aircrafts and pharmaceutical products.With better market access for goods from the EU, Vietnamese enterprises could source EU materials, technology, and equipment at a better quality and price.This, in turn, will improve their own product quality and ease Vietnam’s burden of over-reliance on its other main trading partners.
The EVFTA is considered as a template for the EU to further conclude FTAs with different countries in the ASEAN region with the aim of concluding a region to region FTA once there is a sufficient critical mass of FTAs with individual ASEAN countries. Thus, Vietnam should take advantage of this window of opportunity before FTAs with others in the region are concluded and take effect to become a regional hub.Market access for EU service providers Although Vietnam’s World Trade Organisation (WTO) commitments are used as a basis for the services commitments, Vietnam has not only opened additional (sub)sectors for EU service providers, but also made commitments deeper than those outlined in the WTO, offering the EU the best possible access to Vietnam’s market.(Sub)sectors that are not committed under the WTO, but under which Vietnam has made commitments, include: Interdisciplinary Research & Development (R&D) services; nursing services, physiotherapists and para-medical personnel; packaging services; trade fairs and exhibitions services and building-cleaning services. When these services reach international standards, Vietnam has a chance to export high-quality services, resulting in not only an increase in export value but also export efficiency, thus helping to improve the trade balance.Government procurement Vietnam has one of the highest ratios of public investment-to-GDP in the world (39 per cent annually from 1995).However, until now, Vietnam has not agreed to its Government procurement being covered by the Government Procurement Agreement (GPA) of the WTO.
Now, for the first time, Vietnam has undertaken to do so in the EVFTA.The FTA commitments on Government procurement mainly deal with the requirement to treat EU bidders, or domestic bidders with EU investment capital, equally with Vietnamese bidders when the Government purchases goods or requests a service worth over the specified threshold.Vietnam undertakes to follow the general principles of National Treatment and Non-discrimination. It will publish information on intended procurement and post-award information in Báo Đấu Thầu – Public Procurement Newspaper – and on information on procurement system at and the official gazette in a timely manner, allow sufficient time for suppliers to prepare for and submit requests for participation and responsive tenders and maintain the confidentiality of tenders.The FTA also requires its Parties to assess bids based on fair and objective principles, evaluate and award bids only based on criteria set out in notices and tender documentation and create an effective regime for complaints and settling disputes.These rules require Parties to ensure that their bidding procedures match the commitments and protect their own interests, thus helping Vietnam to solve its problem of bids being won by cheap but low-quality service providers.
Government procurement of goods or services, or any combination thereof, that satisfy the following criteria falls within the scope of the FTA Government Procurement rules: Investment Dispute Settlement This is now covered in the IPA.In disputes regarding investment (for example, expropriation without compensation or discrimination of investment), an investor is allowed to bring the dispute to the Investment Tribunal for settlement.To ensure the fairness and independence of the dispute settlement, a permanent Tribunal will be comprised of 9 members: 3 nationals each appointed from the EU and Vietnam, together with 3 nationals appointed from third countries. Cases will be heard by a 3-member Tribunal selected by the Chairman of the Tribunal in a random and unpredictable way.This is also to ensure consistent rulings in similar cases, thus making the dispute settlement more predictable.The IPA also allows a sole Tribunal member where the claimant is a small or medium-sized enterprise or the compensation of damaged claims is relatively low.