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The European Union and Vietnam have reached an agreement in principle for a new free trade agreement after two and a half years of negotiations1.
The agreement is the first of its kind the EU has concluded with a developing country.
EU Trade Commissioner2 Cecilia Malmstrom is hailing the agreement as a "milestone3" and the first step toward a region-wide agreement with Southeast Asia.
"This agreement sets an EU new model for trade policy in developing countries. Once the agreement is up and running, it will provide significant opportunities for business, investment and for jobs here in Europe and in Vietnam. It will remove nearly all tariffs4 on goods traded between us. It covers services, investment and issues such as government procurement5."
欧盟与越南达成自贸协定
Two-way trade between the EU and Vietnam has grown three-fold to more than 30 billion US dollars in the last 10 years.
The new deal is expected to take effect in late 2017 or early 2018.
The EU is also holding separate talks with two other ASEAN members, Malaysia and Thailand, to try to secure similar free trade agreements.
Negotiations with China on an investment deal are underway.
However, the EU says free trade talks are "not on the agenda at the moment".
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1 negotiations | |
协商( negotiation的名词复数 ); 谈判; 完成(难事); 通过 | |
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2 commissioner | |
n.(政府厅、局、处等部门)专员,长官,委员 | |
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3 milestone | |
n.里程碑;划时代的事件 | |
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4 tariffs | |
关税制度; 关税( tariff的名词复数 ); 关税表; (旅馆或饭店等的)收费表; 量刑标准 | |
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5 procurement | |
n.采购;获得 | |
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