Vietnam, EU sign free trade, investment protection agreements

Sunday, 2019-06-30 19:07:06
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The signing ceremony of the EVFTA and EVIPA in Hanoi (Photo: NDO/Tran Hai)
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NDO/VNA - The EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA) were officially signed in Hanoi on June 30 afternoon in the witness of Prime Minister Nguyen Xuan Phuc and leaders of the European Union (EU).

The EVFTA was inked by Minister of Industry and Trade Tran Tuan Anh and European Commissioner for Trade Cecilia, and the EVIPA, between Minister of Planning and Investment Nguyen Chi Dung and an EU leading official.

Speaking at the signing ceremony, PM Phuc said that the signing of the two important agreements has opened up a new horizon for a larger and more comprehensive cooperation and stronger development of Vietnam and the EU. The Government leader thanked EU leading officials for their support.

The EU, with its Look East vision, has taken Vietnam as a partner, PM Phuc stressed, adding that as a country with rich potential for dynamic development of the top level in Southeast Asia which is implementing its foreign policy of multilateralisation and diversification of relations and having a strong vision for intensive and extensive international integration, Vietnam is very happy to cooperate with the EU.

The PM said the EVFTA and the EVIPA will lift bilateral ties to a greater strategic height, especially amid rising protectionism and non-traditional security challenges.

The leader expressed his belief that the European Parliament, parliaments of EU member nations, and the Vietnamese National Assembly will soon ratify the EVFTA and EVIPA.

At a press conference after the signing ceremony, representatives from the Ministry of Industry and Trade, Ministry of Planning and Investment and the EU responded to questions about benefits that the agreements bring to both sides, as well as pros and cons and solutions that businesses need to promote to capture trade and investment opportunities after the agreements come to life.

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