(VOVworld) - Deputy Minister of Foreign Affairs Bui Thanh Son says the Vietnam-EU Partnership and Cooperation Agreement (PCA), is expected to be finalized this week and will usher in a new era for Vietnam’s economic, trade and investment relations with the EU.

Mr. Son said the PCA was identified in October 2010 and will be officially signed in tomorrow which will help expand bilateral cooperation based on equality and mutual benefits. The PCA is a framework agreement monitoring the Vietnam-EU relationship and replaces the 1995 Vietnam-EC Framework Cooperation Agreement. The PCA has 8 chapters covering basic principles of Vietnam – EU relations, scope and forms of cooperation between the two sides in trade, investment, justice and international security. It will create an important foundation for the two sides to establish specific cooperation mechanisms, contributing to further strengthening the bilateral cooperation and partnership.