Vietnam’s readiness to conclude the free trade agreement, currently being negotiated with the European Union, is being assessed by a Delegation of Members of the European Parliament's International Trade Committee (EP) that is having a working visit to Vietnam between 6 and 9 April. The negotiations with Vietnam are currently in the final phase and the European Parliament will have to give its consent to the deal for it to enter into force.
During the visit, the Delegation, led by the International Trade Committee Chair Bernd Lange (Socialists and Democrat, Germany), have met with Prime Minister Nguyen Tan Dung and Mr Vuong Dinh Hue - Chairman of the Central Committee's Commission for Economic Affairs of the Communist Party of Vietnam. The Delegation also met with the National Assembly, the Ministry of Industry and Trade, the Ministry of Foreign Affairs and the Vietnam Confederation of Labour.
After the program in Hanoi, the Delegation will have a visit to Ho Chi Minh City where they will have a meeting with the Chairman of the People's Committee Le Hoang Quan. In addition, they will have site visits to two factories, including an auto manufacturing factory, where European products are made.
Other Members in the Delegation are the European Parliament's standing rapporteur on trade with Vietnam Jan Zahradil (European Conservatives and Reformist Group, Czech Republic), Iuliu Winkler (European People's Party, Romania), David Martin (Socialist and Democrat, the UK), Daniel Caspary (European People's Party, Germany), Marielle de Sarnez (the Alliance of European Liberals and Democrats, France), Inmaculada Rodriguez (Socialist and Democrats, Spain) and Franck Proust (European People's Party, France).
Background: EU's trade relations with Vietnam
The EU is Vietnam's second largest trade partner while Vietnam is the EU's 32nd trading partner. Negotiations on a Free Trade Agreement between the two partners were launched in June 2012 and are expected to conclude this year. Garment and textile industry is both Vietnam's largest single source of employment and largest export sector.
Outstanding issues
In a resolution MEPs adopted in 2014 they note that respect for workers' and trade union rights needs to be improved in Vietnam, with core International Labour Organization conventions yet to be ratified there. They also drew attention to the need to ensure more fair treatment of foreign investors and services providers in Vietnam, by eliminating the so called "equity caps".
Source: http://eeas.europa.eu
Key words: European Parliament Delegation, assess, Vietnam's readiness, conclude, trade deal, EU
