Recommendations for EU-Vietnam FTA, IPA adopted
(VOVWORLD) - The European Parliament (EP)’s Committee on International Trade (INTA) adopted recommendations for the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (IPA) in Brussels on Tuesday.
 Once the EVFTA comes into effect, the EU will eliminate import tariffs for nearly 86 percent of the tariff lines and over 99 percent of tariff lines will be lifted after seven years. (Illustrative image. Source: VNA) |
The recommendations for the EVFTA were approved with 29 votes in favour, six against, and five abstains; and that on the IPA got 26 approval votes out of the 39. The plenary session of the EP is expected to vote on the two agreements in mid-February this year.
The Vietnam’s Ministry of Industry and Trade completed its dossier for the ratification of the EVFTA earlier this month and submitted it for the Prime Minister’s approval. According to Vietnam’s 2016 International Treaty Law, this dossier will be submitted to the President before being delivered to the National Assembly for approval.