Brussels, 13/11/2013 (Agence Europe) - The fifth round of talks has allowed discussions to be deepened on market access and non-tariff barriers to environmental trade.
Last week, the EU and Vietnam finished their fifth session of talks (4-8 November) in Hanoi ahead of a free-trade agreement. While all the chapters covered by the agreement - customs duties and non-tariff barriers, services, investment, public procurement, regulatory issues, competition and sustainable development - were discussed, the parties held detailed discussions on their initial offers on market access for goods and public procurement. In addition, the negotiators held “constructive” discussions, according to the European Commission, on the Green Tech annex to the agreement, which focuses on fighting non-tariff barriers that affect trade and investment in the renewable energy sector - an area that the parties both want to promote.
During his visit to Hanoi at the beginning of March, European Commissioner for Trade Karel De Gucht stressed the reform efforts needed by Vietnam - particularly with regard to privatisation of state enterprises - as well as tariff liberalisation and lifting non-tariff barriers. Brussels and Hanoi began their negotiations in June 2012, hoping to seal an agreement within three years. The sixth round of negotiations will take place in Brussels in January 2014.
Vietnam is the EU's fifth most important trading partner in the ASEAN region. Bilateral trade in goods amounted to nearly €24 billion in 2012, with EU exports to Vietnam totalling €5.3 billion and Vietnamese exports to the EU totalling €18.5 billion. The EU is the fourth biggest foreign investor in Vietnam with foreign direct investment in the country in 2012 amounting to US$1.37 billion. (EH/transl.fl)