EC to announce FTA impact on Vietnam

(VOV) – The Vietnamese EU trade office in Belgium announced that the European Commission Directorate General for Trade will meet on June 11 to unveil the Trade Sustainability Impact Assessment (TSIA) for the EU-Vietnam Free Trade Agreement (EVFTA).

During the meeting, EU civil organizations will also present their viewpoints on the influence of EVFTA negotiations on Vietnam, according to the Vietnam-EU Trade Office in Belgium.

High on the agenda will be an announcement of the EVFTA TISA and an update of the third round of EVFTA negotiations that took place in Vietnam recently.

A preliminary report on the TSIA shows that the agreement will greatly benefit Vietnam, but it will force the country to transform the national economy towards opening more to international trade.

The European Commission considers a chapter on trade and sustainable development the core of the FTA, providing mutual assistance to social development, environmental protection and economic growth.

Key issues for sustainable development include establishing effective labour standards and adhering to the principles of sustainability in the forestry and fishery sectors.