EP, VN strive for EVFTA ratification in next nine months
He said the EP is in charge of approving all treaties or international trade agreements that the EU joins.
The EVFTA will be considered in two stages, by the INTA and by the EP. The deal is scheduled to be considered and verified by the INTA in the spring of 2018 to ensure that all commitments in the agreement will be fully implemented.
If the EP reaches majority consensus, the EVFTA will be approved next summer, Lange noted.
He expressed his belief that the trade pact will bring about sustainable growth and benefits to both sides.
To soon conclude the EVFTA negotiation, which is now in the final stage of legal review, Lange said Vietnam should soon ratify eight core conventions of the International Labour Organisation to ensure that the deal will equally benefit all people.
The EU and Vietnam should pledge not to obtain economic benefits at any cost and to ensure safety for the environment, he added.
To guarantee that all people will benefit from the EVFTA, the two sides are set to establish a new mechanism called domestic advisory groups to give advice to their governments, thus improving the deal’s contents during the implementation and creating opportunities for both sides’ organisations to exchange information.
On the same day, Nguyễn Văn Bình, Chairman of the Party Central Committee’s Economic Commission held a meeting with INTA Chairman Bernd Lange.
Bình affirmed that international integration is a consistent policy of Vietnam and the country pays special attention to free trade agreements with partners in general as well as the EVFTA in particular.
He expressed the wish that EU will collaborate with Vietnam to build programmes and schedules to support Vietnam as well as create favourable conditions for the two sides’ enterprises to access information and exchange market research teams.
INTA Chairman Bernd Lange affirmed that the EU always attaches importance to its partnership with Vietnam and is in favour of signing the EVFTA.