Vietnam vows to boost cooperation with EU for mutual benefits: Top legislator

Monday, 2019-07-01 17:54:41
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National Assembly Chairwoman Nguyen Thi Kim Ngan (R) and EU Trade Commissioner Cecilia Malmstrom. (Photo:
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NDO – Vietnam targets boosting cooperation with the European Union (EU) to bring prosperity to the people and businesses of both sides, not only for the interests of Vietnam and the EU but also contributing to the common prosperity of the world.

>>> Vietnam, EU sign free trade, investment protection agreements

National Assembly (NA) Chairwoman Nguyen Thi Kim Ngan made the statement during a reception for European Commissioner for Trade Cecilia Malmstrom in Hanoi on July 1. Malmstrom was in Vietnam to witness the signing of the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA) in the capital city a day earlier.

Praising the EU and the commissioner’s roles in promoting EVFTA and EVIPA signing, NA Chairwoman Ngan affirmed that right at the year-end NA’s meeting, Vietnam will proceed to ratify EVFTA, pledging to continue improving the legal system to implement EVFTA and EVIPA.

Sharing with Malmstrom about the importance of EVFTA and EVIPA, the host emphasised that the two agreements would promote the good cooperation between the two sides to a new heights and open up opportunities for cooperation of businesses on both sides. She expressed her confidence that when being approved and implemented, the two agreements would also bring practical benefits to the Vietnamese and EU people, businesses and investors.

The EU senior official stressed that the signing of EVFTA and EVIPA was an important milestones in Vietnam and EU relations, reflecting both parties’ wishes and further strengthening the good comprehensive partnership and cooperation between the two parties. With EVFTA and EVIPA, the two sides can look forward to further collaborating on the basis of implementing mutual commitments and focusing more on trade and investment, Malmstrom stated.

According to the EU commissioner, the signing of EVFTA and EVIPA was a great achievement by the leaders and the negotiating staff of both sides. The documents also conveyed a message that the EU and Vietnam want to cooperate strongly on free and sustainable trade to bring mutual benefits to the people and businesses of both sides, Malmstrom said, adding that the EU would continue to support Vietnam in the implementation of further work related to the two agreements.

At the meeting, NA Chairwoman Ngan and EU Trade Commissioner Malmstrom also discussed several issues of mutual concern, agreeing on the need to promote dialogues and maintaining a regular dialogue mechanism between the two sides in the framework of the Vietnam - EU Partnership and Cooperation Agreement (PCA).