European Parliament Delegation assesses Vietnam's readiness to conclude trade deal with the EU



Vietnam’s readiness to conclude the free trade agreement, currently being negotiated with the European Union, is being assessed by a Delegation of Members of the European Parliament's International Trade Committee (EP) that is having a working visit to Vietnam between 6 and 9 April. The negotiations with Vietnam are currently in the final phase and the European Parliament will have to give its consent to the deal for it to enter into force.


During the visit, the Delegation, led by the International Trade Committee Chair Bernd Lange (Socialists and Democrat, Germany), have met with Prime Minister Nguyen Tan Dung and Mr Vuong Dinh Hue - Chairman of the Central Committee's Commission for Economic Affairs of the Communist Party of Vietnam. The Delegation also met with the National Assembly, the Ministry of Industry and Trade, the Ministry of Foreign Affairs and the Vietnam Confederation of Labour.


After the program in Hanoi, the Delegation will have a visit to Ho Chi Minh City where they will have a meeting with the Chairman of the People's Committee Le Hoang Quan. In addition, they will have site visits to two factories, including an auto manufacturing factory, where European products are made.


Other Members in the Delegation are the European Parliament's standing rapporteur on trade with Vietnam Jan Zahradil (European Conservatives and Reformist Group, Czech Republic), Iuliu Winkler (European People's Party, Romania), David Martin (Socialist and Democrat, the UK), Daniel Caspary (European People's Party, Germany), Marielle de Sarnez (the Alliance of European Liberals and Democrats, France), Inmaculada Rodriguez (Socialist and Democrats, Spain) and Franck Proust (European People's Party, France).


Background: EU's trade relations with Vietnam


The EU is Vietnam's second largest trade partner while Vietnam is the EU's 32nd trading partner. Negotiations on a Free Trade Agreement between the two partners were launched in June 2012 and are expected to conclude this year. Garment and textile industry is both Vietnam's largest single source of employment and largest export sector.


Outstanding issues


In a resolution MEPs adopted in 2014 they note that respect for workers' and trade union rights needs to be improved in Vietnam, with core International Labour Organization conventions yet to be ratified there. They also drew attention to the need to ensure more fair treatment of foreign investors and services providers in Vietnam, by eliminating the so called "equity caps".

Our Services

  • Vietnam Desk

    Vietnam Desk
    Vietnamese companies in NL/ Europe
    Dutch companies doing business in Vietnam
    Read more
  • Asia Desk

    Asia Desk
    AB Consult - Asia Desk focuses on servicing Asian-based companies from China, Taiwan, Korea, and Asia Pacific, doing business in the Netherlands/Europe. Also, we can help facilitate Dutch companies doing business in Vietnam, China and/or Taiwan.
    Read more
  • VAT & Customs

    VAT & Customs
    Value Added Tax (“VAT”) and Customs are typically the two main tax areas that overseas corporations will be impacted when starting their business in Europe.
    Read more
  • Management

    Management of finance & tax function for overseas businesses
    Typically, overseas companies, when starting their business in the Netherlands, would prioritize their overseas’ resource to generate sales in the Netherlands and/or Europe.
    Read more
  • Interim

    Interim and project management of Tax & Finance functions
    Our consultants can temporarily assist you on special projects or act as project (tax/finance) manager during special projects such as mergers and acquisitions, supply chain re-structuring, post-closing/integration implementation, tax audits, or developing a new overseas business or vacancy, etc
    Read more