The 7th negotiation round of Vietnam – EU Free Trade Agreement (EVFTA) was held from March 17 to 26, 2014 in Hanoi. Two sides have been active in accelerating negotiation in all aspects, especially is the fields both sides have benefits in.
The EU and Vietnam today completed the sixth round of negotiations for a Free Trade Agreement (FTA). The talks were held in Brussels from 13-17 January.
Vietnam and the European Union (EU) kick-started the fifth round of their free trade agreement (FTA) negotiations in Hanoi on November 4.
The fourth Vietnam – EU (EVFTA) negotiation round was taking place in Brussels from July 1st to 5th, 2013 in Brussels, Belgium. At this negotiation round, two sides had accelerated discussion in all aspects and obtained positive progresses on basis of mutual benefit balance.
Implementing guidance of the two sides’ Leadership, the third negotiation round of Vietnam – EU Free Trade Agreement (EVFTA) was held from April 23rd to 26th, 2013 in Hochiminh city. Vietnamese Delegation led by Deputy Minister of Industry and Trade, Vietnamese Government’s Chief Negotiator on economic issues and international trade Tran Quoc Khanh with representatives from relevant Ministries and branches were participating in the negotiation round.
Vietnam and the European Union started the second round of their negotiations on the Vietnam - EU Free Trade Agreement (VEFTA) in Brussels, Belgium, on January 22.
It involves 60 experts from both sides. The Vietnamese delegation is headed by Deputy Minister of Industry and Trade Tran Quoc Khanh and the EU delegation by Chief Negotiator Mauro Petriccione.
EU – the huge market with 27 members is one of the most important trade partners of Vietnam. In recent years, Vietnam – EU trade relations have developed significantly. In 1995, the two sides signed a Framework Cooperation Agreement. Vietnam and EU relation are further strengthened through signing off Partnership and Cooperation Agreement (PCA). Vietnam and EU intend to launch a free trade negotiation with large and deep market access commitments.
This analysis chose four Free Trade Agreements that for their modernity and their similarities with the kind of FTA will be proposed by the EU, will be more likely a useful benchmark on which evaluate the EU’s demand vis-à-vis Vietnam. The Agreements are: EU – Chile; EU – Korea; EU – CARIFORUM; EU – Colombia and Peru
Free trade agreements (FTAs) are becoming increasingly sophisticated and complex trade policy instruments. The European Union begun to systematically use FTAs in the nineties in order to extend its sphere of economic influence to neighbouring countries. With the time FTAs evolved to address also non-trade concerns. Indeed, compared with the initial wave of FTAs of the early nineties, which were used to address market access and trade in goods issues, the new generation of FTAs can be described as mature economic and foreign policy instruments that go well beyond reduction of trade barriers.