Second round FTA Vietnam – EU

18/06/2013    169

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. 

The Vietnamese delegation was led by Deputy Minister of Industry and Trade Tran Quoc Khanh and the EU delegation, headed by Mauro Petriccone, Director for Asia and Latin America of the European Commission’s Directorate General for Trade. 

The four-day talk will focus on the exchange of goods and services, investment, intellectual property, labour and environmental issues. 

Following the success of the first round, which took place in Hanoi on October 8-12, 2012, the second round is expected to speed up VEFTA negotiation process as agreed by both sides’ leaders. 

The two sides plan to hold four rounds of talks this year. 

The EU now is Vietnam’s largest export market with an export turnover of 20.3 billion USD in 2012. 

Once the FTA is signed, it will help promote trade and investment cooperation between Vietnam and the EU, bringing practical benefits to business communities and people of both sides.