EVFTA opens investment opportunities for Czech Republic
The recent ratification of the EU-Vietnam Free Trade Agreement (EVFTA) by the European Parliament (EP) is a major success after more than nine years of negotiations, according to David Jarkulisch, an economic diplomat from the Czech Republic.
Prague (VNA) – The recentratification of the EU-Vietnam Free Trade Agreement (EVFTA) by the EuropeanParliament (EP) is a major success after more than nine years of negotiations,according to David Jarkulisch, an economic diplomat from the Czech Republic.
The Czech Ministry of Foreign Affairs recentlypublished an article by Jarkulisch on the website export.cz, saying the EVFTAis the biggest and most ambitious trade deal that the EU has ever signed with adeveloping country.
It will also bring enormous opportunities forEuropean investors, including those from the Czech Republic, he said.
He added that the EVFTA will not only eliminate tarifflines for 99 percent of the goods to be traded, but also facilitate customsprocedures and remove non-tariff barriers to trade, thus making it easier forEuropean companies to access Vietnamese government’s public procurementcontracts and provide stronger protection for intellectual property rights.
For the Czech Republic, since most of itsexports to Vietnam belong to the group of machinery and equipment – which hasthe fastest tax reduction rate, the EVFTA will facilitate Czech products topenetrate into the Vietnamese market.
Automobile, farm produce and beer will also bepromising fields for the European country, he added.
On February 13, the Chamber of Deputies (LowerHouse) of the Parliament of the Czech Republic passed a resolution supportingsome international agreements, including the EU-Vietnam Investment ProtectionAgreement (EVIPA).
The EVIPA was adopted by the Czech Senate inlate January this year./.
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Illustrative image (Source: VNA) 
