News Article

EU and Vietnam to sign trade deal

On Sunday (June 30), the EU Commission announced, the European Union will reach an agreement to eliminate nearly all tariff duties on trade with Vietnam.

The agreement was signed away in December 2015, but only at a ministerial conference on Wednesday EU member states provided their permission.

EU Trade Commissioner Cecilia Malmstrom will be travelling to Hanoi on the afternoon to register the agreement, and it is anticipated to be ratified by the EU Parliament subsequent this year.

“I am thrilled to see that our trade and development contracts with Vietnam have been provided with a positive sign by the Member States,” Malmstrom said.

“Besides the clear economic benefits, this agreement also aims to reinforce respect for human rights and protect the environment and the rights of workers.” EU-Vietnam trade represents EUR 50 billion in goods and four billion inn services, and Europe is keen to secure access for 95 million consumers.

But in the past, Brussels voiced worry about the human rights record of the former French colony.

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