Trade with Vietnam: Working together towards growth and sustainability

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Today, the EU-Vietnam free trade agreement and the investment protection agreement will be voted on in the International Trade Committee, opening market opportunities and triggering investments in both directions. Renew Europe is looking forward to closer economic ties with Vietnam, which will also help engagement with the country when it comes to promoting labour and environmental standards. Renew Europe stresses that by working more closely together, also other areas of cooperation, including on human rights, can be and should be further enhanced.

Karin Karlsbro, Shadow Rapporteur on this file and Coordinator of the INTA Committee, said today:

“At a time where the order of international, rules-based trade is being challenged, passing this agreement sends the right signal — not only towards other Asian partners but to the entire world. It is an example of rules-based trade at its best. It will bring Vietnam and Europe closer together, create economic opportunities for both parties and, at the same time, promote sustainability through binding provisions on labour rights and environmental standards.”

“We will continue to closely monitor the human rights situation in Vietnam. And it is my firm belief that the EU’s ability to promote human rights in developing countries is much greater if we work closely with them rather than without them.”

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