Brussels, 02/04/2012 (Agence Europe) - After Singapore and Malaysia, the EU is to negotiate a free-trade agreement with a third partner in the ASEAN region, Vietnam. The negotiations, which are due to start this summer, are likely to be difficult and could take 3 years.
Following the finalisation of the exercise to determine the scope of the negotiations on the sideline of the ASEAN ministerial conference in Phnom Pen on 31 March, the EU and Vietnam may formally open their talks this summer, "between July and September", hopes Trade Commissioner Karel De Gucht, quoted this week in the Asian media. The Commission now needs to obtain a negotiating mandate from the member states. This will not be easy, given the misgivings of certain member states to have the doors of their markets opened wide to a ferocious rival. Vietnam, which is the EU's fifth-largest trading partner in ASEAN, recorded a surplus of €7.6 billion in 2011.
Negotiations for a free-trade agreement between the EU and Vietnam, which initialled a partnership and cooperation agreement in 2010, will cover trade in goods and services, non-tariff barriers and commercial aspects of the rules on intellectual property and competition. However, the EU also wishes to include a chapter on social and environmental standards. According to Commissioner De Gucht, it could take "three years" to conclude an agreement. (EH/transl.fl)