(VOVworld) - The European Parliament (EP) heard reports on the progress of negotiations on the EU-Vietnam Free Trade Agreement (EVFTA) in Brussels on Tuesday ahead of the final round of negotiations to take place in Vietnam next month.

EU Chief Negotiator Mauro Petriccione said that Vietnam is the first developing country and the second country in ASEAN after Singapore to get involved in FTA negotiations with the EU.

Therefore, he said, the EU has taken into consideration Vietnam’s development level and has showed certain flexibility in the negotiation process. The chief negotiator said he believes the two sides can wrap up the negotiation at the March talks and the European Parliament will quickly ratify the agreement.

Vice Chairman of the EP’s International Trade Committee (INTA) Jan Zahradil expressed satisfaction at the outcomes of the past negotiation rounds, adding that based on these results and the pace of negotiation, the two sides can hope for an early conclusion of the EVFTA.

Vietnamese Ambassador to Belgium and head of the Vietnamese Delegation to the EU Vuong Thua Phong stressed the importance of the pact to Vietnam. He underlined Vietnam’s political will to accelerate the negotiations in line with its policy of comprehensive international integration. Phong said he hopes the two sides will conclude the FTA in the first quarter of this year in accordance with the agreements and directions of their leaders.