After more than two years and a half of negotiations, an agreement in principle for a free trade agreement (FTA) between Europe and Vietnam has been signed few days ago. This agreement has the scope to boost the exchanges between the European and Vietnamese operators removing nearly every tariff on traded goods. The agreement won’t be limited only at tariffs matters but will open new opportunities to services and investments. Financial services, telecommunications, transports, post and couriers will be liberalised. Also in the food & beverage field many obstacles will be removed. The agreement will provide a better protection for the Geographical Indications (GIs) in order to better protect the European excellence products such as Champagne or Parmigiano Reggiano cheese. On the other hand a better protection will be provided to Vietnamese excellence products as well, such as the Mộc Châu tea or Buôn Ma Thuột coffee. The agreement in principle doesn’t renounce to provide rules to protect the environment, the workers’ health and a particular attention to Corporate Social Responsibility and fair and ethical trading schemes. Once the FTA text will be finalised it has to be approved by the Council and the European Parliament.

Euroleges ®