Eu resigns itself to tariffs as us seeks leverage

Brussels (VNA) – The European Parliament (EP)’s Committee on International Trade (INTA) adopted recommendations for the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (IPA) in Brussels on January 21. The recommendations for the EVFTA were approved with 29 votes in favour, six against, and five abstains; and that on the IPA got 26 approval votes out of the 39.  The voting event saw the participation of 40 members of the INTA under the chair of INTA chairman Bernd Lange. The EVFTA consists of 17 chapters, two protocols and some memoranda of understanding on trade, goods, services, investment, trade remedies, competition, State businesses, government procurement, and intellectual property. Once the agreement comes into effect, the EU will eliminate import tariffs for nearly 86 percent of the tariff lines and over 99 percent of tariff lines will be lifted after seven years. This is the first FTA that the EU has signed with a … [Read more...] about Recommendations for EU-Vietnam FTA, IPA adopted

Hanoi (VNA) – The European Parliament Committee on International Trade (INTA) on January 21 approved a resolution asking for the European Parliament (EP)’s ratification of the European Union – Vietnam Free Trade Agreement (EVFTA) and the EU – Vietnam Investment Protection Agreement (EVIPA). Approval votes for the two agreements are the highest compared to the voting of several recent FTAs between EU and partners, proving EU parliamentarians and member states’ appreciation for Vietnam’s role and position in the world, as well as the comprehensive cooperative partnership between Vietnam and the EU. According to several studies, the EVFTA and EVIPA are expected to help Vietnam’s gross domestic product (GDP) grow by 4.6 percent and exports to the EU up 42.7 percent by 2025. The European Commission estimated that the EU’s GDP will increase by 29.5 billion USD and exports to Vietnam pick up 29 percent by 2035. Via the deals, Vietnam … [Read more...] about Resolution seeking EP’s ratification of EVFTA, EVIPA approved

Vietnam, which has one of the region's fastest growing economies, backed by robust exports and foreign investments, has already signed about a dozen free trade pacts, including an 11-country deal that will slash tariffs across much of the Asia-Pacific, known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). … [Read more...] about EU-Vietnam free trade deal signed in Hanoi

“With the consent to this trade deal with Vietnam, the trade committee is giving a positive signal to the ASEAN region and the rest of the world at a time when trade tensions are rising,” said Rapporteur Geert Bourgeois in a statement after the vote. … [Read more...] about EU-Vietnam free trade deal gets green light from trade committee

Experts also discussed how to improve tourists’ experience in preparing and planning Vietnam visits, considering the fact many visitors face difficulties in using Vietnamese online tourism services, such as real products not matching advertisements and a lack of direct consultancy. … [Read more...] about Forum seeks solutions to improve attractiveness of Vietnam’s tourism