The International Labour Organisation (ILO) has welcomed the signing of the EU-Việt Nam free trade agreement (EVFTA) on 30 June in Hanoi, which promotes the respect for fundamental labour rights as a basic condition for fair international trade.
Việt Nam’s free trade agreement with the EU would go a long way towards tapping the trade potential that exists with Poland, experts have said at a conference last week in HCM City.
The European Union signed a trade deal with Vietnam on Sunday, underscoring the bloc’s commitment to opening up its market and trading freely in the face of rising protectionism and trade tensions around the world.
President Donald Trump is in the middle of a trade war with China, with the administration having levied a tariff of 25% on $200 billion worth of Chinese imports.
Vietnam has removed tariffs on several products including fruit and frozen foods imported from six CPTPP signatories.
A trade promotion delegation, including 22 Vietnamese enterprises, is currently on a working visit to South Africa, from June 21 to 29, to advertise products, seek import partners, establish partnerships and explore opportunities for business and investment cooperation.
Vietnamese exporters have been urged to prepare for any trade-related lawsuits and disputes arising from the escalating US-China trade war amid concerns that the two major powers will not reach an agreement at a meeting in Japan this month.
The European Council announced on Tuesday that it has approved the European Union – Việt Nam Free Trade Agreement (EVFTA) and the EU – Việt Nam Investment Protection Agreement (EVIPA), and assigned the EU to sign the deals with Việt Nam on June 30 in Hà Nội.
Việt Nam has been moving towards building a sustainable wood processing industry that uses legal materials in accordance with international and Vietnamese law as well as regulations of major export markets like the US, EU and Japan.
The development potential for trade partnership between Vietnam and the EU is bright thanks to abundant opportunities brought by the soon-to-be-signed EU-Vietnam Free Trade Agreement (EVFTA), according to a German expert.
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