Vietnam eyeing euro-zone trade deal

opinion April 04, 2012 00:00

By Viet Nam News

The European Union and Vietnam are poised to launch negotiations on a bilateral free trade agreement (FTA) after agreeing upon a list of topics to be covered during the Asean-EU Businesss Summit in Phnom Penh.

The negotiations will cover a broad range of issues including the elimination of import tariffs, non-tariff barriers to trade, trade in services, and the trade aspects of rules relating to intellectual property and competition.

EU Trade Commissioner Karel De Gucht said the completion of the framework marked a clear desire to deepen trade relations and improve the business environment between the EU and Vietnam.“Last year, EU-Vietnam trade was worth over 18 billion euros (US$24.19 billion) and I believe an eventual free trade deal would provide real opportunities for European businesses to expand in [Vietnam],” he said.