HA NOI (VNS)— Prime Minister Nguyen Tan Dung yesterday expressed his hope that the UK would continue supporting Viet Nam's free trade negotiations with the EU. He also wished for the UK's support for Viet Nam in important areas, particularly education and economy, during his meeting with British Minister of State for Trade and Investment Stephen Green. At the meeting, Dung said he relished the visit of the UK trade head and noted that bilateral trade continued thriving, reaching nearly US$3.5 billion in 2012. In addition, Dung said he hoped United Kingdom would continue supporting Vietnamese students by increasing scholarships and investing in bettering educational institutions in Viet Nam. For his part, Green said the UK always considered its relations with Viet Nam to be strategically important and would focus on implementing effectively the commitments between the two governments, especially in investment, economy, trade and education and training. He also hoped both sides … [Read more...]
China opens EU wine probe as trade dispute spreads
BEIJING – Beijing has begun an anti-dumping probe into European wine, the commerce ministry said on Wednesday after the EU imposed tariffs on solar panel imports from China, in a dramatic broadening of the trade dispute. "The Chinese government has initiated an anti-dumping and anti-subsidy investigation procedure into wines from the European Union," commerce ministry spokesman Shen Danyang said in a statement. China is the EU's second-largest trading partner, but the move is a major widening of a row that has already involved solar equipment and telecoms, chemicals and seamless pipes. No figures were immediately available for total EU wine exports to China, but the largest individual wine supplier nation in 2012 was France, with 140 million litres sold, worth $788 million.On Tuesday the European Commission imposed anti-dumping duties on imports of Chinese solar panels, defying German-led opposition and warnings from Beijing. EU Trade Commissioner Karel De Gucht said they were … [Read more...]
EU deal a ‘milestone’ in relations
HA NOI (VNS)— The EU will provide EUR2.9 million (US$3.8 million) for three years to support Viet Nam's development through the implementation of activities in areas covered by the EU-Viet Nam Partnership and Co-operation Agreement (PCA). The financial support is part of the new EU-Viet Nam Strategic Dialogue Facility, launched yesterday in Ha Noi by the Delegation of the EU to Viet Nam and the Ministry of Foreign Affairs. The Facility will fund policy-oriented research and studies and organise conferences, high-level meetings and training sessions with European and international experts. These will address a broad range of issues including governance, human rights, environment and climate change, migration, public administration reform and transnational crime. Trade and investment, currently covered by other EU cooperation projects, will not be a main priority for the Facility. Dr. Franz Jessen, head of the EU Delegation to Viet Nam, said that the PCA was an important milestone … [Read more...]
Future FTA to fuel Viet Nam, EU trade
The European Union (EU) and Viet Nam stand to benefit from a bilateral free-trade agreement to be signed by the end of next year, officials have said at a business forum held in HCM City. The European Union Trade Commissioner Karel De Gucht (right) and Minister of Trade and Industry Vu Huy Hoang officially launched negotiations for a bilateral free trade agreement in Brussels in June 2012. — diendandautu.vn Photo by Quynh Hoa HCM CITY (VNS)— The European Union (EU) and Viet Nam stand to benefit from a bilateral free-trade agreement to be signed by the end of next year, officials said at a business forum held in HCM City on Wednesday. The move is expected to turn Viet Nam into a regional production base and business hub. "The FTA will offer market-access for goods and service providers from both sides," said Jean-Jacques Bouflet, head of Trade and Economic Affairs for the EU in Viet Nam. Under the FTA, tariffs on at least 90 per cent of trade and trade lines will … [Read more...]
Phu Quoc fish sauce granted PDO in EU
Phu Quoc fish sauce has been granted the status of Protected Designation of Origin (PDO) in the EU, protecting its name in all the 28 countries.—File Photo HA NOI (Biz Hub)— Phu Quoc fish sauce has been granted the status of Protected Designation of Origin (PDO) in the EU, protecting its name in all the 28 countries. The sauce, which officially received PDO recognition in 2012, has passed all EU food safety regulations and it is also the first-ever Vietnamese product to be granted this status in the EU. The ceremony was held during a three day conference, which ended yesterday, between Vietnamese trade officials based in Europe who are keen to find ways of enhancing trade with the EU. "The EU certification is a remarkable milestone in the development of our nation's branding, which is vital to enhance the value of domestic agricultural products, particularly those for export," said Industry and Trade Deputy Minister Ho Thi Kim Thoa at the conference. Thoa said that after … [Read more...]
Greece sees Monday deal on EU-IMF rescue funds
ATHENS – Greece and its international creditors hope to reach a deal by Monday on reforms including thousands of job cuts needed for the debt-laden nation to unlock further aid worth 8.1 billion euros ($10.4 billion). "We have made substantial progress," Poul Thomsen, the International Monetary Fund's representative, told reporters in Athens on Sunday."I hope we will reach an agreement on Monday before the Eurogroup meeting," Thomsen said, according to the state-run Athens News Agency. Greek Finance Minister Yannis Stournaras was also "optimistic that tomorrow (Monday) we will have an agreement." Greece needs to come to an accord with the troika of international creditors – the IMF, the European Union and the European Central Bank – by Monday, when eurozone finance ministers are due to meet to decide if the bloc should release the next instalment of rescue funds worth 6.3 billion euros. The marathon talks which began last month will now move from Athens to Brussels … [Read more...]
EU awareness key to export success
Vietnamese exporters should learn well the new European Union rules relating to the bloc's Generalised System of Preferences (GSP) in order to extract maximum advantage, experts said at a seminar held in HCM City yesterday. Workers at a footwear company in Binh Duong Province The seminar, titled "EU's new regulations on GSP – opportunities for Vietnamese businesses," informed participants of the new rules and their potential impacts on Vietnam. In his opening remarks, Dr. Franz Jessen, Ambassador and Head of the EU Delegation to Vietnam, said: "The strong growth of Vietnamese exports to the EU market is partially attributed to some Vietnamese products enjoying the GSP treatment." He said that around 49 per cent of Vietnam's exports of footwear have benefited from preferential tariffs under the GSP regime. From 2014 … [Read more...]
VN, EU enter fourth round of FTA talks
HA NOI (VNS)— The fourth negotiating session on a bilateral free-trade agreement between Viet Nam and the European Union (EU) began yesterday in Brussels. The EU team is headed up by Mauro Petriccone, Director for Asia and Latin America at the Directorate General for Trade at the European Commission and the Vietnamese are led by Tran Quoc Khanh, Deputy Minister for Industry and Trade. The four-day discussions are focused on the exchange of goods and services, government purchases and investment, as well as other issues related to market access such as the protection of intellectual property. Luong Hoang Thai, Director of the Ministry of Industry and Trade's Multilateral Trade Policies Department talked with the Vietnam News Agency before the session got underway. Thai stressed that both parties had shown a determination to realise their mutual aim, which is to conclude the negotiations by the end of the year. The free-trade agreement between Viet Nam and the European Union is … [Read more...]
German election heralds no change for EU
by Mai Hien Over the past few weeks, much attention has been paid to the elec-tion in Germany, which is not only the European Union's largest economy but also one that will play a decisive role in addressing debt turmoil in the eurozone. Many hope that a new government in Germany could push the country towards adopting a more constructive role for Europe. However, most analysts rule out a change in policy. In Sunday's election, Angela Merkel's conservative Christian Democratic Union won a resounding victory with 41.5 per cent, the best in 23 years. Her victory is significant, as she is the only European leader to maintain her position in this time of economic crisis. Merkel's austerity measures have drawn many protesters from crisis-stricken countries, but now she returns with consolidated power. Merkel was rewarded for navigating the country through the eurozone debt crisis largely unscathed, with triple A ratings and low unemployment. The fact that Germany enjoys steady economic … [Read more...]
EU suspends Colombia fund after shock vote
STRASBOURG, France — The European Union announced yesterday it would suspend a development fund earmarked for Colombia, following a referendum in which voters rejected a peace deal with the FARC rebel group. The bloc had set aside roughly 600 million euros to help Bogota uphold a historic peace accord that sought to end half a century of conflict with the guerrillas. "Obviously in the current situation we cannot continue with the launch of this fund," minister Ivan Korcok of Slovakia, which currently holds the rotating EU presidency, told the European Parliament. But he insisted that "EU engagement in the Colombian peace process will carry on," adding that 11 countries had committed to the proposed fund. The bloc would not row back on its decision to suspend the FARC for six months from its terror list, which it has been on since 2002, Korcok said. "After the referendum, the FARC did not denounce the peace accord they had signed. In fact they confirmed their desire to … [Read more...]