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The Vietnamese government policy to divest itself of these enterprises is twofold, said speakers at a recent forum in Hanoi discussing the country’s preparedness for the Vietnam-EU free trade pact that is on track to come into force in 2018.

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The EU-Việt Nam Free Trade Agreement (EVFTA) will help Việt Nam become the regional hub for many foreign manufacturing companies, promoting the development of industrial parks (IPs) in the country, said Gellert Horvath, vice chairman of the European Chamber of Commerce (Eurocham).

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The EU and Vietnam have reached an agreement on a free trade deal that will remove nearly all tariffs on commerce between the two economies and contribute to further market access, albeit with long transition periods for certain products.

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In terms of customs and trade facilitation, commitments on customs procedures and cooperation and legal provisions will be a bridge for customs authorities to access new standards and use modern methods for more efficient and proactive customs management.

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The FTA incorporates investment chapters that provide a range of protections for qualifying EU foreign investors and their investments of a nature usually found in bilateral and multilateral investment treaties.

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Viet Nam must improve the bidding legal framework to ensure consistence with commitments to the EU – Viet Nam Free Trade Agreement in government procurement, a conference heard.

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On 4/8/2015, Vietnamese Minister of Industry and Trade Vu Huy Hoang and EU Trade Commissioner Cecilia Malmström agreed in principle on a comprehensive and ambitious trade and investment agreement - the Free Trade Agreement between Vietnam and the European Uniion (EVFTA)This Memo is made by the European Commission summarizing main contents of the EVFTA.Download the Memo here

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Today the EU and Vietnam have reached an agreement in principle for a free trade agreement (FTA), after two and a half years of intense negotiations. Following a telephone conversation this morning between EU Trade Commissioner Cecilia Malmström and Vietnamese Minister of Industry and Trade Vu Huy Hoang, all issues of substance have been agreed, and both sides have reached a mutually beneficial and balanced package.

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Today EU Trade Commissioner Cecilia Malmström and Vietnamese Minister of Industry and Trade Vu Huy Hoang agreed in principle on a comprehensive and ambitious trade and investment agreement.

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Vietnamese PM pushes for signing of Vietnam-EU FTA in mid-2015Vietnamese Prime Minister Nguyen Tan Dung has pushed for the signing of the Vietnam-European Union (EU) free trade agreement (FTA) in mid-2015, describing it as a key milestone to lift bilateral ties. While meeting with Chairman of the European Parliament's International Trade Committee Bernd Lange in Hanoi on Tuesday, Dung said the European Parliament plays a key role in the FTA adoption, signing and enforcement monitoring, reported Vietnam's state-run news agency VNA.

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