Cefic welcomes the EU-Vietnam free trade and investment protection deals
On 12 February, the European Parliament gave its consent to the EU-Vietnam free trade agreement (FTA) and Investment Protection Agreement (IPA). Following joint actions through a business coalition, Cefic welcomes this step forward which is considered the “most modern and ambitious agreement ever concluded between the EU and a developing country”. Read more.
Together with 13 associations, Cefic co-published a fact sheet and sent a communication to MEPs to highlight the mutual benefits this agreement will bring to businesses, consumers and workers. Following yesterday’s news, Cefic is pleased that MEPs have strongly endorsed the FTA with 401 votes, 192 votes against and 40 abstentions. The EU-Vietnam FTA will gradually eliminate almost all customs duties and will include binding rules on climate, labour and human rights. Separately, the Parliament agreed by 407 votes for, 188 against and 53 abstentions to an IPA.
Download the fact sheet EU-Vietnam free trade agreement (below)
13 Associations
- European Automobile Manufacturers Association (ACEA)
- American Chamber of Commerce to the European Union
- amfori
- Comité Européen des Entreprises Vins (CEEV)
- The European Chemical Industry Council – Cefic
- CELCAA (European Liaison Committee for Agricultural and Agri-Food Trade)
- European Association of Automotive Suppliers (CLEPA)
- DIGITALEUROPE
- European Federation of Pharmaceutical Industries and Association (EFPIA)
- European Services Forum (ESF)
- Eurochambres
- EuroCommerce
- Federation of the European Sporting Goods Industry (FESI)
- spiritsEUROPE