New EU – Vietnam agreements expected to boost multilateral cooperation

The EU Trade Commissioner and the Romanian Minister of Foreign Affairs is scheduled to arrive in Hanoi to sign the agreement on Sunday.

The negotiation and preparation for the agreements started about seven years ago. After the signing, the two agreements need to be ratified by the National Assembly of Vietnam and the European Parliament. If all goes well, the EVFTA may be adopted by the end of this year or early next year, while the EVIPA will take at least two years to be adopted as it needs approval from 28 European Union member legislatures.