FTA Supports a Quick Entry into Force of The EU-Vietnam Free Trade Agreement

22-09-2016

On 14 September 2016, FTA participated in the conference: “EU-Vietnam Free Trade Agreement: Get Ready for New Opportunities”. Dr Pierre-Michael Gröning, Head of Trade Policy at FTA, highlighted the benefits of the agreement from the import and retail sector’s point of view.

FTA strongly believes that the EU-Vietnam Free Trade Agreement (EVFTA) will create jobs and growth in both the EU and Vietnam, while the strong chapter on sustainable development will safeguard and promote dialogue on social and environmental standards. The EU retail sector has a double interest in Vietnam because (i) it is the EU’s second largest source of fast-moving consumer goods after China, and (ii) there is growing interest for investment in retail stores, since it is a market of 90 million consumers with an expanding middle class.

Overall, FTA supports the rapid entry into force of the agreement so that both sides can benefit from the market access; lowering of tariffs; and the strong sustainable development chapter provided by the agreement.

To read our status report on the agreement, please click here.

By Pierre Gröning, Head of Trade Policy 

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