EU And Vietnam Free Trade Agreement Reached

Recently, the European Union has reached a free trade agreement with Vietnam.

The agreement will abolish almost all tariffs imposed on goods traded with Vietnam, and set a benchmark for the future free trade agreement between the EU and Asian economies.

Vietnam's official statistics show that in the export market, the EU is Vietnam's largest export market, and Vietnam's exports to Europe in March 2015 amounted to $6 billion 920 million. Vietnam's main exports to Europe include various phones and parts, footwear, textile garments, electronic products, computers and their parts.

Followed by the United States, exports amounted to US $6 billion 900 million in March this year.

EU Trade Commissioner Mar James Thrun (CeciliaMalmstrom) said: "the agreement is

It provides a new modern paradigm with the FTA of developing countries, and sets a good standard for the trade relations between the EU and Southeast Asia.

This agreement will promote trade between the EU and one of the most dynamic economies in Asia.

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She said that 31 million jobs in Europe depend on exports.

It is great news that 90 million consumers will get more convenient access to the fast developing market in Vietnam.

Vietnam's exporters will also push their products to Europe more easily, thus promoting Vietnam's economic development.

The negotiating team will now solve some of the remaining technical problems and finalize the legal texts. The final text is subject to the approval of the European Union member governments and the European Parliament.

According to statistics from the Central Bureau of Statistics (BPS), the output of large and medium manufacturing industries will increase by 5.44% over the same period last year in the second quarter of this year.

Surya Min, director of the Central Bureau of statistics, told reporters in Jakarta: "in the second quarter of this year, the number of micro manufacturing products increased by 5.09% over the previous quarter," Sur Amin said.

During the period, the highest rate of increase was electrical equipment industrial products, an increase of 10.72%, followed by leather, leather and footwear products 10.38%, and textile industry products 9.42%.