European Commission issues press release on EVFTA

The European Union (EU) – Vietnam Free Trade Agreement (EVFTA) - the most comprehensive trade agreement the EU has signed with a developing country, will take effect from August 1, a press release of the European Commission (EC) stressed
european commission issues press release on evfta

EC President Ursula von der Leyen (Photo: Xinhua/VNA)

In the document issued on July 31, EC President Ursula von der Leyen said the European economy now needs every opportunity to recover its strength after the crisis caused by the COVID-19 pandemic.

Trade agreements such as the EVFTA will provide European companies opportunities to access emerging markets, and create jobs for Europeans, she added.

She expressed her strong belief that the trade pact will also create a chance for Vietnamese to enjoy a more prosperous economy and gain more benefits.

EU Trade Commissioner Phil Hogan stated that Vietnam is currently in the group of 77 countries having trade relations with the EU under bilateral preferential terms.

EVFTA helps further promote economic linkage between the EU and dynamic regions in Southeast Asia and contributes to economic recovery after the COVID-19 crisis, he said.

The agreement also shows that trade policies can bring about many social benefits, he said, adding that Vietnam has made great efforts to improve its labourers' rights through trade negotiations.

EVFTA is expected to eliminate 99 percent of tariffs on goods traded between the EU and Vietnam, and make it easier for European companies to invest in the Southeast Asian nation.

Source: VNA
english.vov.vn

Related News

Local steel industry sees recovery momentum

Local steel industry sees recovery momentum

VCN - The profits of steel industry enterprises in the second quarter of 2024 recorded very high growth compared to the same period, but there are still differences, some businesses even continue to sink in losses.
EVFTA strengthens Vietnam

EVFTA strengthens Vietnam's attractiveness to European investors

VCN - The Vietnam - EU Free Trade Agreement (EVFTA) has been in effect for four years (August 1, 2020). However, the level of benefits received from this new generation FTA is divided and different among businesses.
EVFTA boosts Vietnam’s exports to Europe

EVFTA boosts Vietnam’s exports to Europe

VCN - The EVFTA has strengthened Vietnam’s attractiveness to European investors, and has significantly boosted Vietnam’s exports to Europe.
Taking advantage of EVFTA: "It

Taking advantage of EVFTA: "It's impossible for everyone's house to shine brightly"

VCN - According to experts, the trend of the EU market is to increase technical barriers when reducing tariff barriers. It can be easily seen that as soon as the EVFTA took effect, the EU made many announcements related to rules for facilities raising and transporting aquatic animals, or increasing regulations on requirements for animal health...

Latest News

Prime Minister to attend 8th Greater Mekong Subregion Summit

Prime Minister to attend 8th Greater Mekong Subregion Summit

Prime Minister Pham Minh Chinh will lead a high-level delegation to the 8th Greater Mekong Subregion (GMS) Summit in Kunming, China’s Yunnan province, from November 5 to 8, at the invitation of Chinese Premier Li Qiang.
PM's visit a significant milestone in Vietnam – Qatar relations: Vietnamese FM

PM's visit a significant milestone in Vietnam – Qatar relations: Vietnamese FM

Deputy Prime Minister and Foreign Minister Bui Thanh Son has granted and interview to Qatar's Asian Telegraph Newspaper on the outcomes of Prime Minister Pham Minh Chinh's visit to the Middle Eastern country from October 30 to November 1, as well as the cooperation prospects between the two countries.
Cuban top legislator concludes Vietnam visit

Cuban top legislator concludes Vietnam visit

Politburo member of the Communist Party of Cuba and President of the National Assembly of People’s Power Esteban Lazo Hernandez and the Cuban delegation successfully concluded their visit to Vietnam on November 3.
State President welcomes top legislator of Cuba

State President welcomes top legislator of Cuba

State President Luong Cuong met with Politburo member, President of the National Assembly of People’s Power, and President of the Council of State of Cuba Esteban Lazo Hernandez in Hanoi on November 2.

More News

Remove "bottlenecks" for economic breakthrough

Remove "bottlenecks" for economic breakthrough

VCN - In recent articles and speeches, General Secretary and President To Lam has repeatedly mentioned that the country is facing a new era of national growth. General Secretary and President To Lam also requested that the “bottlenecks” of the economy must be quickly removed, creating innovation and breakthroughs to complete the set tasks.
Int’l organisations, experts remain optimistic about Vietnam's economic outlook

Int’l organisations, experts remain optimistic about Vietnam's economic outlook

International organisations and experts have made positive comments on the Vietnamese economy, affirming their optimism about Vietnam's economic outlook.
Party chief clarifies major issues on new era of nation

Party chief clarifies major issues on new era of nation

Prof. Dr. To Lam, General Secretary of the Communist Party of Vietnam (CPV)’s Central Committee on October 31 had a discussion with participants of a training course for officials planned for the 14th Party Central Committee, focusing on a number of issues on a new era – the era of the nation’s rise.
Vietnam, others call on US to immediately end embargo against Cuba

Vietnam, others call on US to immediately end embargo against Cuba

Vietnam calls on the US to immediately end its embargo against and remove Cuba from the list of state sponsors of terrorism, moving towards normalising relations between the two countries based on equality, mutual respect, and respect for each other's national sovereignty and political independence, stated Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN.
Vietnam

Vietnam's economy is recovering well

VCN - According to Dr. Nguyen Quoc Viet, Deputy Director of the Vietnam Institute for Economic and Policy Research (VEPR), by the end of the third quarter of this year, Vietnam's economy had recovered relatively well amid optimism about the overall growth of the world economy in late 2024 and 2025.
“Carbon footprint” reduction needed for sustainable tourism development: insiders

“Carbon footprint” reduction needed for sustainable tourism development: insiders

Vietnam's tourism industry is making efforts to reduce its “carbon footprint” in pursuit of sustainability, focusing on developing “green tours”, upgrading transport infrastructure, and developing renewable energy-used vehicles, said insiders.
Concerted efforts underway to prevent IUU fishing

Concerted efforts underway to prevent IUU fishing

Vietnam is making thorough preparations to welcome the European Commission (EC)'s inspection delegation with the hope of having its “yellow card” on illegal, unreported and unregulated (IUU) fishing against the fisheries sector removed, thus boosting seafood exports to the EU market.
Vietnam needs to diversify supply chains for sustainable growth: economists

Vietnam needs to diversify supply chains for sustainable growth: economists

The diversification of global supply chains is creating significant opportunities for Vietnam to engage more deeply in international production networks. However, along with market expansion prospects, there are challenges posed by trade tensions, the reality of climate change accompanied by natural disasters, and the requirements for carbon emissions reduction, according to experts.
PM arrives in Abu Dhabi, beginning official visit to UAE

PM arrives in Abu Dhabi, beginning official visit to UAE

Prime Minister Pham Minh Chinh, his spouse and a high-ranking delegation of Vietnam arrived at Zayed International Airport in Abu Dhabi at 11 am on October 27 (local time), starting their official visit to the United Arab Emirates (UAE) at the invitation of President Mohamed bin Zayed Al Nahyan.
Read More

Your care

Latest Most read
Prime Minister to attend 8th Greater Mekong Subregion Summit

Prime Minister to attend 8th Greater Mekong Subregion Summit

Prime Minister Pham Minh Chinh will lead a high-level delegation to the 8th Greater Mekong Subregion (GMS) Summit in Kunming, China’s Yunnan province, from November 5 to 8, at the invitation of Chinese Premier Li Qiang.
PM's visit a significant milestone in Vietnam – Qatar relations: Vietnamese FM

PM's visit a significant milestone in Vietnam – Qatar relations: Vietnamese FM

Deputy Prime Minister and Foreign Minister Bui Thanh Son has granted and interview to Qatar's Asian Telegraph Newspaper on the outcomes of Prime Minister Pham Minh Chinh's visit to the Middle Eastern country from October 30 to November 1, as well as the cooperation prospects between the two countries.
Cuban top legislator concludes Vietnam visit

Cuban top legislator concludes Vietnam visit

Politburo member of the Communist Party of Cuba and President of the National Assembly of People’s Power Esteban Lazo Hernandez and the Cuban delegation successfully concluded their visit to Vietnam on November 3.
State President welcomes top legislator of Cuba

State President welcomes top legislator of Cuba

State President Luong Cuong met with Politburo member, President of the National Assembly of People’s Power, and President of the Council of State of Cuba Esteban Lazo Hernandez in Hanoi on November 2.
Remove "bottlenecks" for economic breakthrough

Remove "bottlenecks" for economic breakthrough

General Secretary and President To Lam requested that the “bottlenecks” of the economy must be quickly removed, creating innovation and breakthroughs to complete the set tasks.
Mobile Version