Resolution seeking EP’s ratification of EVFTA, EVIPA approved

Wednesday, 2020-01-22 10:01:51
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Once the EVFTA comes into effect, the EU will eliminate import tariffs for nearly 86% of the tariff lines and over 99% of tariff lines will be lifted after seven years. (Illustrative image: VNA)
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NDO/VNA – The European Parliament Committee on International Trade (INTA) on January 21 approved a resolution asking for the European Parliament (EP)’s ratification of the European Union - Vietnam Free Trade Agreement (EVFTA) and the EU - Vietnam Investment Protection Agreement (EVIPA).

Approval votes for the two agreements are the highest compared to the voting of several recent FTAs between EU and partners, proving EU parliamentarians and member states’ appreciation for Vietnam’s role and position in the world, as well as the comprehensive cooperative partnership between Vietnam and the EU.

Via the deals, Vietnam will have a chance to tap the commitments on access to goods markets, services, investment and sustainable development to propel sustainable and inclusive growth, as well as step up widespread global economic integration.

On the EU side, the deals will contribute to further deepening the partnership between the EU and Asia-Pacific countries, including ASEAN member states.

With support from INTA, the documents on approving EVFTA and EVIPA will be submitted to the EP for consideration in the near future.