amfori, BusinessEurope, EuroCham Vietnam and spiritsEurope, held an event for government and business representatives on 9 October in Brussels, to present the benefits of the EU-Vietnam Free Trade Agreement that are anticipated by our members and businesses on both sides. We also called on the prompt ratification of the agreement, which was concluded almost three years ago.
amfori President, Mr Christian Ewert, presented the benefits for amfori members and our operations in Vietnam, especially with regards to the promotion sustainability standards in the country.
He mentioned that amfori firmly believes that “the EVFTA will lead to economic growth on both sides, and in this way, help drive cooperation on sustainable development, ensuring that the benefits will be long-term and evenly shared.”
Mr Ewert also pointed out that amfori is eager to take part in the EU-Vietnam Domestic Advisory Group, which will be the platform for civil society and other stakeholders to ensure the proper implementation and functioning of the trade agreement, and its contribution to sustainable development.
The text of the agreement will be translated into the official EU languages. According to EU and Vietnamese sources, the two sides aim for the entry into force by early Q2 2019.
A possible obstacle to the deal’s ratification is the discussions in the European Parliament about the Vietnamese labour code reform. Another aggravating factor could also prove to be the Parliament’s busy agenda before the European Elections in May 2019, especially with regards to Brexit.
H.E. Ambassador Vu Anh Quang and amfori President Christian Ewert in photo above