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Home International Customs Vietnam

Vietnam hopes to get FTA with EU

byCT Report
06/03/2017
in Vietnam
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HANOI: The government in Vietnam faces pressure from European lawmakers to improve its human rights record.

The rights issues are being raised at a time when European Union (EU) members are considering a free trade deal with the Southeast Asian nation.

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The European Parliament recently sent its Subcommittee on Human Rights on a fact-finding trip to Vietnam. The committee called on Vietnamese officials to permit more debate about political rights and freedom of expression and religion.

The EU and Vietnam signed the free trade deal in December of 2015. However, the European Parliament and the legislatures of all EU members must approve the agreement for it to take effect.

Frederick Burke is with the law office of Baker & McKenzie in Ho Chi Minh City. He noted, “They have this daunting prospect of having to go through 27 national assemblies to get anything ratified.”

EU officials had sought the trade deal so European companies could easily do business with Vietnam and its market of 93 million people.

The EU also hopes the agreement will serve as a starting point for a free trade deal with the Association of Southeast Asian Nations (ASEAN). Vietnam is one of ASEAN’s 10 members.

Vietnam has been developing an export-driven economy. The country is seeking to diversify its markets and reduce dependence on China.

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