NA Standing Committee to consider ratification of EVFTA in April

Friday, 2020-04-03 12:47:47
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The trade deal is expected to be ratified by the National Assembly at the 14th National Assembly’s ninth session. (Illustrative image)
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NDO – The National Assembly Standing Committee (NASC) has asked relevant agencies to complete the dossier on the ratification of the EU-Vietnam Free Trade Agreement (EVFTA) for submission to the NASC at its 44th session, scheduled for mid-April this year.

According to the NASC, the trade deal is expected to be ratified by the National Assembly at the 14th National Assembly’s ninth session.

Earlier, the European Council signed a decision on ratifying the EVFTA on March 30, paving the way for the deal to come into force.

The EVFTA will take effect after it is ratified by the Vietnamese National Assembly and 30 days after the two sides have completed the procedures to notify each other.

The trade pact is expected to create a strong boost for Vietnam's exports, helping to diversify markets and export items, particularly agricultural and aquatic products and products for which Vietnam has competitive advantages.