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Top legislator, European trade commissioner talk about EVFTA

 Chairwoman of the National Assembly Nguyen Thi Kim Ngan and European Commissioner for Trade Cecilia Malmstrom exchanged ideas related to the signing and ratification of the EU-Vietnam Free Trade Agrement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA) during their meeting in Hanoi on July 1.

The top legislator highly valued the role of the EU and the trade official in promoting the signing of the two agreements.

Malmstrom said the signing is a remarkable progress in the relations between Vietnam and the EU which helps reinforce the bilateral partnership and comprehensive cooperation.

With the two pacts, the two sides hope the bilateral relations will reach further based on the implementation of joint commitments focusing on trade and investment.

Both the EU and Vietnam want to strengthen cooperation in free and sustainable trade to bring common benefits for their peoples and businesses.

The signing marked an important historical milestone, she said, adding that the EU will continue supporting Vietnam to implement the follow-up work related to the agreements.

Highly appreciating the role of Vietnamese leaders in the negotiations of the two agreements, Malmstrom stressed the importance of implementing the pacts, including the programme on trade and sustainable development, to bring practical benefits for employees and locals.

Chairwoman Ngan said at the working session of the NA at this year’s end, the legislature will conduct the ratification of the EVFTA and continue improving the legal system to implement the two deals.

She said the two trade pacts will help elevate the bilateral relations to a new height and open up numerous cooperation opportunities for their businesses.

The top legislator expressed her belief that after being ratified and implemented, the two agreements will bring practical benefits for Vietnamese and EU peoples, businesses, and investors.

The two sides agreed that the maintenance of dialogues is important not only in the process of implementing the agreements but also deepening the bilateral cooperative ties within the framework of the EU-Vietnam Comprehensive Partnership and Cooperation (PCA).

Vietnam and EU’s relevant agencies will closely work together to prepare the next steps to submit to the Vietnamese National Assembly and the European Parliament (EP) for early ratification.

Chairwoman Ngan stressed that the common perception of Vietnam and the EU is enhancing cooperation not only for the benefits of the two sides, but also for the world’s prosperity.