Challenges to Vietnam-EU FTA negotiations
(VOV) -The Free Trade Agreement (FTA) between Vietnam and the European Union (EU) will likely open up new opportunities but also pose challenges to the national economy.
Many delegates to the seminar “Challenges 2013 – The road ahead for Vietnam-EU FTA” held in Hanoi on November 29 raised their concerns over public procurement and the protection of intellectual property rights when Vietnam and EU are moving toward the signing of FTA.
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Jean Jacques Bouflet, Minister Counsellor and head of the Trade and Economic Section of the EU delegation to Vietnam, highlighted great prospects for stronger economic and trade cooperation between the EU and Vietnam, and expressed his belief that the Vietnam-EU FTA will open a sustainable entrance for both sides’ products and services. This will help Vietnam remove tariff barriers and help the country integrate into the global supply chain.
However, Luong Hoang Thai, head of the Multilateral Trade Policy Department under the Ministry of Industry and Trade (MOIT) was worried about Vietnam’s lack of experience in negotiating newly-emerged issues, including public procurement and the protection of intellectual property rights. In addition, he said, Vietnam and the EU have different cultural and trade concepts that may cause difficulties in their negotiations.
He pointed out that when exporting meat, Vietnam only focuses on food hygiene and safety, while the EU pays due attention to consumers’ health, animal rights, and environmental protection.
Nevertheless, Jean Jacques Bouflet said Vietnam should not worry about these technical issues, adding that EU negotiators will conduct separate negotiations on specific technical issues. The core matter is how to ensure sustainable growth and expansion of markets for the benefit of both sides, he noted.
Some delegates argued that Vietnam-EU FTA negotiations are taking place at an inconvenient when the two sides are confronted with numerous difficulties caused by the global economic downturn. Therefore, it requires them to make strong commitments, they said.
Against the odds, they all agreed that the signing of the Vietnam-EU FTA will provide a fresh impetus for both parties to develop along a right track.