The EU-Vietnam FTA Chances for European and Vietnamese business, consumers and workers
Growing better together
CLEPA supports an ambitious EU trade policy. EU Free Trade Agreements create opportunities for European businesses, contribute to job creation, and enhance global competition and innovation. Vietnam is a fast growing market and a strategic partner, fulfilling a crucial role in global manufacturing supply chains. CLEPA is therefore a member of the EU-Vietnam business coalition to support the ratification of the EU-Vietnam Agreement and calls for a positive vote in the European Parliament’s INTA committee on Tuesday, 21 January.
The undersigned business associations respectfully request Members of the European Parliament (MEPs) to consider the benefits for both sides and to approve the EU-Vietnam Free Trade Agreement.
We note that the negotiations on the EU-Vietnam FTA concluded in December 2015, and both European and Vietnamese businesses and consumers have been waiting since then for its ratification and entry into force.
The trade agreement, with its liberalisation of tariffs and deepening of business links, represents a great opportunity for European businesses – granting access to a strong emerging market of close to 100 million people. It also opens the door to partnership, dialogue and cooperation with Vietnam creating stronger ties with the South-East-Asian region and will raise standards for consumers and workers alike. The agreement contains a strong chapter on trade and sustainability, to which the Commission and Vietnam have made a strong commitment to ensure close compliance. Furthermore, the Vietnamese government has made an equally strong commitment to address earlier concerns about workers’ rights and ratify and implement three core ILO conventions. One of these has already been transposed into Vietnamese law, and the Vietnamese government will implement the others shortly, significantly improving the situation of workers in Vietnam.
The EU-Vietnam Business coalition firmly supports the approval of the EU-Vietnam Agreement, and we ask for your support of ratification of this Free Trade Agreement in the INTA committee on Tuesday, 21 January.
In: Growth & Competitiveness, Trade