{"id":977,"date":"2020-02-13T09:14:22","date_gmt":"2020-02-13T09:14:22","guid":{"rendered":"https:\/\/hlshipping.com\/?p=977"},"modified":"2020-02-13T09:14:22","modified_gmt":"2020-02-13T09:14:22","slug":"english-european-parliament-ratifies-evfta-evipa","status":"publish","type":"post","link":"https:\/\/hlshipping.com\/en\/english-european-parliament-ratifies-evfta-evipa\/","title":{"rendered":"European Parliament ratifies EVFTA, EVIPA"},"content":{"rendered":"<img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-978 aligncenter\" src=\"https:\/\/hlshipping.com\/wp-content\/uploads\/2020\/02\/68032_xk-EU1.jpg\" alt=\"\" width=\"640\" height=\"457\" srcset=\"https:\/\/hlshipping.com\/wp-content\/uploads\/2020\/02\/68032_xk-EU1.jpg 640w, https:\/\/hlshipping.com\/wp-content\/uploads\/2020\/02\/68032_xk-EU1-300x214.jpg 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/p><div class=\"hlshi-noi-dung_2\" id=\"hlshi-2552442572\"><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3704539290800521\" crossorigin=\"anonymous\"><\/script><ins class=\"adsbygoogle\" style=\"display:block; text-align:center;\" data-ad-client=\"ca-pub-3704539290800521\" \ndata-ad-slot=\"5961295770\" \ndata-ad-layout=\"in-article\"\ndata-ad-format=\"fluid\"><\/ins>\n<script> \n(adsbygoogle = window.adsbygoogle || []).push({}); \n<\/script>\n<\/div>\n<div id=\"_68032\" class=\"inline-image\">\n<div id=\"caption_68032\" class=\"inline-image-caption\">The Lenger Vi\u1ec7t Nam Seafood Company has processed clams for the domestic market and export, including to the EU. The EVFTA opens a great opportunity for Vi\u1ec7t Nam to ship more goods to the EU market. \u2014 VNA\/VNS Photo V\u0169 Sinh<\/div>\n<\/div>\n<p>PARIS\/H\u00c0 N\u1ed8I \u2014\u00a0The European Parliament (EP) on Wednesday ratified the EU-Vi\u1ec7t Nam Free Trade Agreement (EVFTA) and the EU-Vi\u1ec7t Nam Investment Protection Agreement (EVIPA).<\/p>\n<p>The EVIPA was passed with 407 votes for, 188 against and 53 abstentions; and the EVFTA, with 401, 192 and 40, respectively.<\/p>\n<p>At a press conference on this event held by the Ministry of Industry and Trade in H\u00e0 N\u1ed9i the same day, Minister of Industry and Trade Tr\u1ea7n Tu\u1ea5n Anh said: &#8220;This is a meaningful result for Vi\u1ec7t Nam and the EU, two comprehensive strategic partners.\u201d<\/p>\n<p>The ratification of these two agreements has created a sustainable foundation for the two sides to improve quality in comprehensive cooperation, he said.<\/p>\n<p>It has also shown\u00a0the EU values Vi\u1ec7t Nam as a comprehensive and trustworthy partner in Southeast Asia and the world over, the minister said.<\/p>\n<p>He described the European Union \u2013 Vi\u1ec7t Nam Free Trade Agreement (EVFTA) as a lever for growth, opening up opportunities to infiltrate into a market with a gross domestic product of US$18 trillion.<\/p>\n<p>Nearly 100 per cent of Vi\u1ec7t Nam&#8217;s goods to the EU will see their import tariffs eliminated in the short term. This is the highest level of commitment that a partner has given to Vi\u1ec7t Nam in signed free trade agreements, he said.<\/p>\n<p>Meanwhile, the two agreements are expected to be ratified in the upcoming session of the Vi\u1ec7t Nam&#8217;s Nation Assembly in April-May. They are likely to come into effect from July this year\u00a0in Vi\u1ec7t Nam, he said.<\/p>\n<p>The EVFTA is expected to create a major push for Vi\u1ec7t Nam\u2019s exports, helping diversify the country\u2019s exports and markets.<\/p>\n<p>Under the agreement, Vi\u1ec7t Nam will cut 65 per cent of import tax on EU commodities after the deal takes effect, while the rest will be erased over a 10-year period. Meanwhile, the EU will cut more than 70 per cent of tariffs on Vi\u1ec7t Nam\u2019s commodities after the deal takes effect, while the rest will be abolished over the seven subsequent years.<\/p>\n<p>The two documents were signed in H\u00e0 N\u1ed9i on June 30 last year after eight years of negotiation. They include intensive, extensive and comprehensive commitments covering the fields of economy, trade, investment and sustainable development issues.<\/p>\n<p>According to research by the Ministry of Planning and Investment, the two deals will help Vi\u1ec7t Nam increase its GDP by 4.6 per cent and its exports to the EU by 42.7 per cent by 2025. Meanwhile, the European Commission has projected the EU\u2019s GDP to increase by $29.5 billion and its exports to Vi\u1ec7t Nam by 29 per cent by 2035.<\/p>\n<p>The investment commitments will replace bilateral investment agreements between Vi\u1ec7t Nam and EU members, helping the country continue to reform its economic structure, perfect business environment and institutions, and facilitate EU investors\u2019 business in Vi\u1ec7t Nam. \u2014 VNS<\/p>\n<h2><strong>In box: ILO welcomes EP\u2019s EVFTA ratification<\/strong><\/h2>\n<p>The International Labour Organisation (ILO) office in Vi\u1ec7t Nam on February 12 said it welcomes the European Parliament\u2019s ratification of the European Union \u2013 Vietnam Free Trade Agreement (EVFTA) in Paris earlier the same day, which is expected to bring economic benefits to both sides.<\/p>\n<p>ILO Vietnam Country Director Chang-Hee Lee said the deal\u2019s requirements on labour and environment will\u00a0help bring about benefits for all sides, help Vi\u1ec7t Nam achieve sustainable development and ensure that the current growth is achieved at the expense of future generation\u2019s opportunities.<\/p>\n<p>According to him, Vi\u1ec7t Nam\u2019s entry to the EVFTA and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will make it easier for the country to modernise labour laws and industrial relations systems. The adoption of the revised Labour Code in November 2019 brought its legal framework closer to ILO fundamental conventions.<\/p>\n<p>\u201cModern industrial relations based on recognition of freedom of association, together with better skilled workforce and effective social protection, is a key social driver for Vi\u1ec7t Nam to move towards upper middle income country in a sustainable manner,\u201d he said. \u2014 VNS<\/p>\n<p style=\"text-align: right;\"><strong>Follow: <a href=\"https:\/\/vietnamnews.vn\/economy\/592186\/european-parliament-ratifies-evfta-evipa.html\">vietnamnews.vn<\/a><\/strong><\/p>\n<div id=\"gtx-trans\" style=\"position: absolute; left: 740px; top: 2045.5px;\">\n<div class=\"gtx-trans-icon\"><\/div>\n<\/div><div class=\"hlshi-sau-noi-dung\" id=\"hlshi-3080198513\"><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3704539290800521\" crossorigin=\"anonymous\"><\/script><ins class=\"adsbygoogle\" style=\"display:block; text-align:center;\" data-ad-client=\"ca-pub-3704539290800521\" \ndata-ad-slot=\"5961295770\" \ndata-ad-layout=\"in-article\"\ndata-ad-format=\"fluid\"><\/ins>\n<script> \n(adsbygoogle = window.adsbygoogle || []).push({}); \n<\/script>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The Lenger Vi\u1ec7t Nam Seafood Company has processed clams for the domestic market and export, including to the EU. The EVFTA opens a great opportunity for Vi\u1ec7t Nam to ship more goods to the EU market. \u2014 VNA\/VNS Photo V\u0169 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":978,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tin-tuc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.5 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>European Parliament ratifies EVFTA, EVIPA - HL Shipping<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/hlshipping.com\/english-european-parliament-ratifies-evfta-evipa\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"[:en]European Parliament ratifies EVFTA, EVIPA[:]\" \/>\n<meta property=\"og:description\" content=\"The Lenger Vi\u1ec7t Nam Seafood Company has processed clams for the domestic market and export, including to the EU. 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