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Vietnam Today

EVFTA to be submitted to European Council for approval

Released at: 08:58, 19/10/2018

EVFTA to be submitted to European Council for approval

PM Nguyen Xuan Phuc (left) and EP President Antonio Tajani during their meeting in Brussels on October 17 (Photo: VNA)

EU trade agreement expected to be signed in late 2018 and ratified in early 2019.

by Long Van

The European Commission (EC) agreed on October 17 to submit the EU-Vietnam Free Trade Agreement (EVFTA) to the European Council to seek its approval for the signing of the deal in late 2018 and to the European Parliament (EP) for ratification in 2019, the Vietnam News Agency (VNA) reports.

The State-run news agency quoted an EU representative as telling a press conference in Brussels that the EU affirms its commitment to putting the agreement in place as soon as possible.

On the same day, Prime Minister Nguyen Xuan Phuc, who is in Brussels for an official visit to Belgium before attending the 12th Asia-Europe Meeting (ASEM) Summit, which opened on October 18, met with Mr. Bernd Lange, Chairman of the EP’s International Trade Committee.

Prime Minister Phuc and his host expressed their delight at the EC’s decision to send the EVFTA to the European Council for signing.

Mr. Lange, as quoted by the VNA, said that this is an important step so the EP can begin the ratification process.

During his meeting with EP President Antonio Tajani on the same day, Prime Minister Phuc praised the fruitful relations between the Vietnamese legislature and the EP, saying Vietnam considers it an important pillar of Vietnam-EU comprehensive cooperation.

President Tajani stressed that the EP will make every effort to ratify the agreement in early 2019, which, he said, would support both sides and benefit trade in Europe and Asia.

In a press release, the EU cited EC President Jean-Claude Juncker as saying that the trade and investment agreements with Vietnam will bring unprecedented benefits to European and Vietnamese companies, workers and consumers, the news agency reported.

VNA quoted Mr. Juncker as saying in the EU press release that “by adopting them a few hours before welcoming the participants to the ASEM Summit in Brussels, the commission shows its commitment to open trade and engagement with Asia,” and that he expects the EP and EU member states to work to ensure the agreements enter into force as soon as possible.

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