(VOVWORLD) - The signing of the Free Trade Agreement (EVFTA) and Investment Protection Agreement (IPA) is worthy of the strategic partnership between Vietnam and the EU, Minister of Trade and Industry Tran Tuan Anh said Sunday.
At a joint press conference with EU Commissioner for Trade Cecilia Malmstrom, Mr. Anh said the agreements are important milestones in the Vietnam-EU partnership and have brought the relationship to a higher level.
“Along with other agreements, the EVFTA and IPA will serve as a foundation for Vietnam to better cooperate with the EU and implement its sustainable development strategy, particularly in export and import. The EVFTA could boost Vietnam’s trade growth to 20% in the first year and higher in the following years,” said Minister Anh.
The EVFTA and IPA are the most ambitious agreements with the highest standards between the EU and a developing country.
“The EVFTA and IPA will bring us new opportunities to foster the long-term Vietnam-EU partnership and create a larger development space for bilateral trade. The agreements will boost economic growth and remove current obstacles by creating a better environment for enterprises,” said EU Trade Commissioner Cecilia Malmstrom.
France’s Les Echos newspaper published an article saying the agreements will raise Vietnam’s political credit next year, when it will be a non-permanent member of the UN Security Council and Chair of ASEAN. The UK’s Guardian and the German DW said Vietnam has been among the most active Asian economies in recent years.