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EU looks to sign FTA with VN by late 2014

(VGP – 13/11/2013) - The European Union (EU) hopes to sign a free trade agreement (FTA) with Viet Nam as early as by late 2014, said European Commission Vice President Antonio Tajani.

PM Nguyen Tan Dung (R) and European Commission Vice President Antonio Tajani, Ha Noi, November 13, 2013 – Photo: VGP/Nhat Bac

Mr. Antonio Tajani made the point on November 13 in Ha Noi while meeting with PM Nguyen Tan Dung during his overseas trip to seek business opportunities with Viet Nam.

Viet Nam,said PM Dung,  was delighted at the developments in the bilateral ties in which two-way trade progressed rapidly, reaching over US$ 29 billion in 2012 and is expected to register a 15% rise in 2013. The EU is also one of the largest investors in Viet Nam with total registered capital of US$ 32 billion.  

“Viet Nam hopes to shake hands with the EU in all aspects particularly economics, trade, investment, tourism and ODA,” said PM Dung.

According to the host leader, the Vietnamese Government welcomes and promises to support European enterprises and investors including small and medium-sized ones to do long-term and profitable business in Viet Nam.

PM Dung took the occasion to seek the EC’s assistance for the early signing of the Partnership and Cooperation Agreement (PCA) and the Free Trade Agreement (FTA) in 2014. These documents are expected to create a crucial legal framework and provide favorable conditions for businesses to penetrate into respective markets and beef up economic, trade, investment, tourism linkages.  

Finally, the Government chief proposed the EU early recognize Viet Nam as a market economy and continue providing ODA for the recipient country at a high level.

Mr. Antonio Tajani revealed that the EC delegation is consisted of 40 leading enterprises which want to promote and expand cooperation with Viet Nam in the areas of trade, investment and tourism.

The EU, said the Vice President, hopes to strengthen linkages among SMEs of the two sides in such areas as agricultural processing, tourism, chemicals, and cosmetics industry in the following years and stands ready to work with Viet Nam in the space field, particularly disaster forecast and warning./.

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