(VOVworld) – Vietnam and the European Union (EU) have concluded their 4^th round of negotiations for a Free Trade Agreement (FTA). Both sides have considered this round a basis to speed up negotiations, particularly in goods and service trade, investment, intellectual properties and government procurement. The talks took place from July 1^st to 5^th in Brussels at the levels of chief negotiator, deputy chief and negotiating team regarding commodity and service trade, investment, customs cooperation, competitiveness, sustainable development and legal foundations. The Vietnamese delegation was led by Deputy Minister Trade and Industry Tran Quoc Khanh, while the EU delegation was headed by Mauro Petriccone Director for Eastern Europe, Asia and Oceania of the European Commission's Directorate General for Trade.

After the talks, both sides reached deep mutual understanding of stances, approaches and aspirations, creating a firm premise for measures to minimize differences and agree on complex content that match each other’s reality and capacity. Both sides planed to hold the next round of negotiations in November this year in Hanoi and that a team of experts will meet before September if necessary. 

Footwear is one of major export items to the EU

The EU is now Vietnam’s 2^nd largest trade partners and the biggest importer. Last year, two-way trade turnover stood at more than 29 billion USD. The EU is a major investor in Vietnam with a total of 1,810 projects and registered capital worth 34.28 billion USD.