Brussels, 29/09/2014 (Agence Europe) - The ninth round of trade talks between the EU and Vietnam, which was held in Danang on 22-26 September, brought about noteworthy technical-level progress towards the conclusion of a free-trade agreement, the European Commission announced on Monday 29 September. The visit of Vietnam's Prime Minister Nguyen Tan Dung to Brussels on 13-14 October is expected to enable the parties to agree on an approach and timetable for concluding the negotiations, the Commission adds.
The chief negotiators will meet again in early October, then European Commission President José Manuel Barroso and Dung will assess the progress of the decisions when Dung visits Brussels in mid-October. Barroso and Dung will try to agree on a common approach and on a timetable for concluding the negotiations, the Commission states.
The EU-Vietnam free-trade agreement will cover trade in goods and services, investment, public procurement, intellectual property rights (including geographical indications), non-tariff barriers, animal and plant health and hygiene issues, technical barriers to trade, customs cooperation and trade facilitation, and also trade and sustainable development.
In 2013, bilateral trade in goods amounted to €27.1 billion, €21.3 billion of this being in exports from Vietnam. The EU mainly exports high technology products to Vietnam (electrical equipment and machines, aeroplanes, vehicles, pharmaceuticals, iron and steel). Vietnam's exports to the EU mostly comprise telephone handsets, electronic products, shoes, textiles and clothing, rice, fisheries products and furniture. The EU was one of the main investors in Vietnam in 2012, with a total commitment of €1.37 billion in the country. (EH)