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Committee on Regional Trade Agreements - Hundred and first Session - Free trade agreement between the European Union and Viet Nam Goods and Services - Note on the meeting of 1 November 2021
作者: European Union and Viet Nam

Free Trade Agreement between the European Union and Viet Nam
(Goods and Services)

Note on the Meeting of 1 november 2021

Ambassador H.E. Dr. Cleopa Kilonzo MAILU (Kenya)

1.1.  The 101st Session of the Committee on Regional Trade Agreements (hereinafter "CRTA" or the "Committee") was convened in Airgram WTO/AIR/RTA/26 dated 20 September 2021.

1.2.  Under Agenda Item C.I of the Session, the CRTA considered the Free Trade Agreement between the European Union and Vietnam, goods and services (hereinafter "the Agreement"). The Chairman stated that the Factual Presentation had been prepared by the Secretariat on its own responsibility in full consultation with the Parties, in accordance with paragraph 7(b) of the Transparency Mechanism for Regional Trade Agreements (document WT/L/671).

1.3.  The Chairman indicated that the Agreement had entered into force on 1 August 2020. It had been notified on 13 July 2020 under Article XXIV:7(a) of the GATT 1994 and GATS Article V:7(a) (documents WT/REG406/N/1 and S/C/N/1016) as an agreement establishing a free trade area for trade in goods within the meaning of Article XXIV of the GATT 1994 and for trade in services within the meaning of Article V of the GATS, respectively. The text of the Agreement and its Annexes was available on Parties' official websites and in the WTO RTA database. The Factual Presentation on the goods and services aspects of the Agreement (document WT/REG406/1 dated 1 March 2021) and questions and replies on this Agreement (document WT/REG406/2 dated 26 October 2021) had been distributed.

1.4.  The representative of the European Union thanked the Chairman. She stated that the EU welcomed the consideration of the Agreement and the opportunity to present it. In this regard, she thanked the WTO Secretariat for preparing the event as well as all WTO Members for their interest in the Agreement, which had been reflected in the high number of questions received.

1.5.  She indicated that the Agreement was the most tangible and successful result of co-operation between the EU and Viet and was one of the most ambitious agreements the EU had concluded so far. The Agreement's final objective was the creation of new trade, and investment opportunities and benefits for more than 550 million people. That actual opportunities had been created was reflected in the increasing trend recorded by trade statistics.

1.6.  She recalled that the Agreement had entered into force on 1 August 2020 and was in its implementation phase for 15 months at the time of the meeting. The EU and Viet Nam had also signed an Investment Protection Agreement, which would enter into force after its ratification by all 27 EU Member States. Only 8 had ratified it so far. She stated that intense contacts between the Parties had regularly taken place during that period to ensure the effective implementation of the Agreement so that consumers and businesses could fully reap the benefits of trade and the development opportunities that the Agreement offered.