Brussels, 01/07/2014 (Agence Europe) - On Monday 30 June, the European Commission announced that European and Vietnamese negotiators had made “good progress” in the eighth round of talks for EU-Vietnam free trade, which took place in Brussels on 26-27 June. During an interview on the sidelines of the technical discussions on 27 June, European Commissioner for Trade Karel De Gucht and Vietnam's Minister for Trade Vu Huy Hoang hailed the efforts made by both parties to find ground for understanding on all outstanding issues and they spoke of their desire to bring the negotiations to a swift conclusion.
Last week, the negotiators had intense discussions on market access for goods, services and government procurement, and they exchanged offers on investments. “Good progress” was made in all areas of discussion, the Commission states. The negotiation teams also made “significant progress” on the chapters on sustainable development, trade in goods, sanitary and phytosanitary issues, the fight against fraud and trade defence.
The next round of negotiations will take place in Vietnam before the end of September and smaller meetings will be held over the summer. Hanoi is redoubling its efforts to conclude its trade negotiations with the EU (launched in June 2013) by the tenth EU-ASEM summit in Europe in October.
In 2013, Vietnam became the EU's fourth largest trading partner in the ASEAN region. Bilateral trade that year reached €27.1 billion - including €21.3 billion in exports for Vietnam to the EU. The EU was one of the main investors in Vietnam in 2012 - with a total commitment of €1.37 billion there. (EH)