EVFTA, EVIPA to help raise Vietnam’s position: expert
Illustrative image (Source: VNA)
According to Chu Hoang Long, a senior lecturer in the Crawford School of Public Policy at the Australian National University (ANU), the trade and investment deals are the most comprehensive agreements concluded between the EU and a middle-income country. By signing the agreements with the EU, Vietnam is on par with its major partners of the EU in Asia such as Japan and the Republic of Korea.
The EU highly valued the signing of the two agreements, considering it an important step to reach a deal with ASEAN in the future, Long said, adding that the EU had signed a trade pact with Singapore in ASEAN.
Under the agreements, EU exporters and investors will get preferential treatment in Vietnam as those from countries participating in Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which Vietnam joined, do.
The signing of the agreements shows that Vietnam is committed to implementing the world’s high standards in trade and investment activities, manpower use, the environment, and sustainable development, Long stressed.
Implementing these commitments will help Vietnam build the image of a dynamic and civilized nation with respect for law and common values, he noted.
The agreements will help increase the competitiveness of Vietnamese goods in the EU market - the second largest importer of Vietnam in 2018; and promote Vietnam’s deeper integration into the global economy, thus taking advantage of EU technology and innovation to persify its economy and improve its competitiveness.
However, Long pointed out challenges facing Vietnam, saying that domestic producers will have to compete with products imported from the EU, and Vietnam needs to make legal changes to implement its commitments related to services, intellectual property, origin of goods, the rights of labourers and environmental protection.
Related News
Enhance the core values of the national brand
15:36 | 02/05/2024 Import-Export
Wood exports started well
13:26 | 20/04/2024 Import-Export
Leverage to increase the scale of Vietnam - Laos trade turnover
10:51 | 15/04/2024 Import-Export
Vietnam-China trade reaches over US$ 27 billion
09:29 | 10/04/2024 Import-Export
Latest News
Some 51,600 new firms established in four months
17:17 | 02/05/2024 Import-Export
Agro-forestry-aquatic product exports post trade surplus of 4.74 billion USD in four months
17:13 | 02/05/2024 Import-Export
Solutions for maintaining Vietnam's position as a bright spot for foreign direct investment
15:36 | 02/05/2024 Import-Export
FDI disbursement in January-April period reaches five-year record
19:43 | 01/05/2024 Import-Export
More News
Binh Duong aims to become logistics hub in southern region
19:41 | 01/05/2024 Import-Export
Digital transformation – optimal choice for Vietnamese garment & textile firms
19:39 | 01/05/2024 Import-Export
Infrastructure development creates momentum for exports to "neighboring" markets
19:36 | 01/05/2024 Import-Export
Seaports increase services to attract goods
19:35 | 01/05/2024 Import-Export
The supporting industrial enterprises transform for sustainable development
08:20 | 01/05/2024 Import-Export
Foreign investment disbursement hits record high in the first four months
13:36 | 30/04/2024 Import-Export
Vietnam textile and garment strives to increase the localization rate
06:46 | 30/04/2024 Import-Export
Central Highlands needs to develop border gate economic zones for higher export
16:41 | 29/04/2024 Import-Export
RoK burgeoning market for Vietnam’s agro-forestry-fisheries exports
16:37 | 29/04/2024 Import-Export
Your care
Some 51,600 new firms established in four months
17:17 | 02/05/2024 Import-Export
Agro-forestry-aquatic product exports post trade surplus of 4.74 billion USD in four months
17:13 | 02/05/2024 Import-Export
Enhance the core values of the national brand
15:36 | 02/05/2024 Import-Export
Solutions for maintaining Vietnam's position as a bright spot for foreign direct investment
15:36 | 02/05/2024 Import-Export
FDI disbursement in January-April period reaches five-year record
19:43 | 01/05/2024 Import-Export