New-generation FTA critical to Vietnam-EU economic ties: workshop
Vietnam hasn’t had any free trade agreements (FTAs) with EU member countries, but with the importance of Vietnam-EU relations, a bilateral new-generation FTA is critical to promoting their economic ties.
Processing tra fish at the Hung Ca Compnay in Cao Lanh city, the Mekong Delta province of Dong Thap (Photo: VNA)
Hanoi (VNA) – Vietnam hasn’t had any free tradeagreements (FTAs) with EU member countries, but with the importance ofVietnam-EU relations, a bilateral new-generation FTA is critical to promotingtheir economic ties.
The remark was made by President of the VietnamAcademy of Social Sciences Nguyen Quang Thuan at an international workshop inHanoi on October 25. The event aimed to assess the country’s labour quality andsuggest policies to improve local workforce once the EU-Vietnam Free TradeAgreement (EVFTA) takes effect.
Thuan noted the EU is the second biggest tradepartner of Vietnam with bilateral trade estimated at over 45 billion USD in2016. Meanwhile, they have few commodities that directly compete with eachother.
The negotiation on the EVFTA officially finishedon February 1, 2015. The deal is expected to take effect in 2018.
Analysing its impacts, economists at theworkshop said amidst Vietnam’s strong economic integration, the EVFTA and otherFTAs have great influence as they will contribute to Vietnamese firms’development and reform and help both foreign and domestic investors to grow inmarkets with FTAs.
Trade in goods will be the most promising fieldfor Vietnam and the EU since tariff cuts will fuel export and import activitieswhich have already been thriving. To the EU, some service sectors that it is strongin such as finance-banking, distribution and transportation will benefitimmediately when the EVFTA comes into effect.
Participants noted that the commitments andregulations in the trade pact will create a more favourable business climate,helping Vietnam to perfect relevant policy system and create a solid foundationfor both sides’ businesses to capitalise on the EVFTA.
During the deal negotiation, Vietnam and the EUalso agreed on a framework for cooperation and capacity building programmes inthe areas of mutual concern. This framework will also help Vietnam build legalsystem and implement its commitments in the FTA, thereby enhancing bilateralwin-win trade and investment activities.-VNA
The European Union (EU) wants to ratify the EU-Vietnam Free Trade Agreement (EVFTA) in 2018 and put it into force as soon as possible, the EU’s chief negotiator Mauro Petriccione has said.
Prime Minister Nguyen Xuan Phuc and Chair of the European Parliament’s International Trade Committee (INTA) Bernd Lange discussed the signing of the EU-Vietnam Free Trade Agreement (EVFTA) during their meeting in Hanoi on September 14.
The European Parliament’s Committee on International Trade and the Vietnamese Government have agreed to make concerted efforts for the ratification of the EU-Vietnam FTA in the next eight or nine months.
Vietnamese Trade Counsellor in Russia Duong Hoang Minh highlighted positive outcomes in the one-year implementation of the free trade agreement between Vietnam and the EAEU.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
Processing tra fish at the Hung Ca Compnay in Cao Lanh city, the Mekong Delta province of Dong Thap (Photo: VNA) 
