Home / Knowledge / News / Apparel/Garments / EU hopes to sign FTA with Vietnam by late 2014
EU hopes to sign FTA with Vietnam by late 2014
Nov '13
Mr. Tajani (L) & Mr. Dung (R)/VGP/Nhat Bac
Mr. Tajani (L) & Mr. Dung (R)/VGP/Nhat Bac
The European Union (EU) is hoping to sign a free trade agreement (FTA) with Vietnam as early as by late 2014, European Commission (EC) Vice President Antonio Tajani has said, according to a statement from the Vietnam’s Embassy in Belgium.
Mr. Tajani said this during his meeting with Vietnamese Prime Minister Nguyen Tan Dung in Ha Noi earlier this month, the statement said.
Mr. Dung said he was delighted at the developments in the bilateral ties between the EU and Vietnam, as the two-way trade progressed rapidly, reaching over US$ 29 billion in 2012 and is expected to register a 15 percent rise in 2013.  The EU is also one of the largest investors in Vietnam with total registered capital of US$ 32 billion, he added.
“Vietnam hopes to shake hands with the EU in all aspects, particularly economics, trade, investment, tourism and ODA,” said PM Dung.
Mr. Dung sought the EC’s assistance for the early signing of the Partnership and Cooperation Agreement (PCA) and the Free Trade Agreement (FTA) in 2014, which are expected to create a crucial legal framework and provide favourable conditions for businesses to penetrate into respective markets and beef up economic, trade, and investment linkages. 
The fifth round of negotiations for an EU-Vietnam FTA, which concluded in Hanoi at the beginning of this month, saw negotiators discussing texts covering all the chapters of the proposed FTA, according to a press release from the EC.
The aim of the negotiations is to achieve an ambitious agreement on goods, services and investment, eliminating tariffs and non-tariff barriers and covering other trade-related issues, such as public procurement, regulatory issues, competition, and trade and sustainable development. Once in place, the agreement will boost EU-Vietnam trade and investment ties and provide for more business opportunities on both sides.
The next round of negotiations for EU-Vietnam FTA is scheduled to be held in Brussels in January 2014.
Vietnam is the third ASEAN country to hold FTA negotiations with the EU after Singapore and Malaysia, and followed by Thailand.
Textiles and clothing are among Vietnam’s key exports to the EU.

Fibre2fashion News Desk - India

Must ReadView All

Union textiles minister Smriti Irani addressing at the Texprocil Annual Export Awards. Courtesy: PIB

Textiles | On 22nd Oct 2016

Govt to extend special package to home textiles segment

The Central government is likely to extend the recently approved Rs...

Reebok Liquid Speed Grey. Courtesy: Business Wire

Apparel/Garments | On 22nd Oct 2016

Reebok’s Liquid Factory brings sneaker creation to US

Reebok, a pioneer in the sporting goods industry, has brought sneaker ...

Courtesy: GHCL

Textiles | On 22nd Oct 2016

GHCL to invest Rs 67.25 crore in textile division

Chemicals and textiles firm GHCL will invest Rs 67.25 crore in its...

Interviews View All

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search