Full text of EU-Vietnam Free Trade Agreement Now published and available online!

Following a Press Conference held by Cecilia Malmström (Member of the EC in charge of Trade) in Brussels at 12pm yesterday, the European Union has published the full text of the Free Trade Agreement between the EU and Vietnam (EVFTA). The step follows the conclusion of the negotiating process in December.

 

The European Commission makes the text of the agreement available to the public as soon as the talks have been finalised. This will allow all interested stakeholders to become familiar with its content well in advance of the domestic ratification processes both in the EU and in Vietnam. According to the usual procedure, the text will now be subject to a legal review to verify its consistency and ensure that all the provisions are formulated in a legally-sound way. It will then be translated into all EU languages as well as into Vietnamese before being signed and ratified by both parties. 

The EVFTA is a very good, balanced and comprehensive agreement which reflects Vietnam’s deep commitment in pursuing trade opening and its transition towards a more competitive and sustainable economy. It includes the elimination of almost all tariffs for goods originating from Vietnam after 7 years. There are also commitments in services, public procurement, non-tariff barriers, export duties and a good regulatory package. After Singapore, it is the second ASEAN partner which has concluded an FTA with the EU and it could offer a good model for the rest of the ASEAN countries.

For full version of agreed text as of January 2016 please click here

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