According to the announcement from the European Union office in Hanoi, announcement ceremony and press meeting will be chaired by Minister of Industry and Trade of Vietnam Vu Huy Hoang and Ambassador - Head of the EU delegation, Dr. Franz Jessen.
The event was held after the telephone conversation of leaders of Vietnam and EU Trade Commissioner last weekend.
The FTA commitments in Vietnam - EU includes a series of areas such as trade in goods, trade in services, investment, intellectual property, competition, state enterprises.
According to research by the Project Multilateral Trade Assistance (Mutrap), FTA Vietnam - EU will bring sustainable benefits for both parties, in which the interests of Vietnam is more dominant.
Just making tariff reductions would increase Vietnam's exports to the EU by around 30% to 40%, higher than the increase in exports in school If there is no agreement. Sectors likely to benefit most from the FTA include textiles, footwear, food processing. The service sector expanded expectations significantly also due to the FTA, and may contribute to increased efficiency for the entire economy.
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