Vietnam - EU's Trade and Investment Promoting Cooperation

2:59:34 PM | 10/14/2005

The fifth meeting of the European Community – Vietnam Joint Commission took place in Hanoi on 5 October 2005 under the co-chairmanship of Mr. Vo Hong Phuc, Minister of Planning and Investment and Mr. Eneko Landaburu, Director General for External Relations of the European Commission. The most important emerging issue was whether the EC will grant Vietnam Market Economy Status. Mr. Eneko Landaburu advised that this issue could be settled after the EU’s meeting at the end of this October.
 
This fifth meeting was a special celebratory session commemorating the 15th anniversary of relations between the European Community and Vietnam, established on 22 October 1990, and the 10th anniversary of the signature of the EC-Vietnam Cooperation Agreement. Joint Commission meetings are held alternately in Vietnam and Brussels on a biannual basis to facilitate high-level discussions in the framework of the EC-Vietnam Cooperation Agreement signed on 17 July 1995.
 
The Joint Commission took stock of progress in bilateral relations since the establishment of diplomatic ties and the signature of the EC-Vietnam Cooperation Agreement. It welcomed the impressive growth in overall relations. The two parties underlined the positive development of trade and investment ties, where the EU is now Vietnam’s foremost partner, as well as the well-established developed partnership between the two sides.
 
The parties welcomed the new height in relations attained in the last year, with the main landmarks being the successful 5th ASEM Summit and in its margins, the first ever informal “EU-Vietnam Leaders” meeting and the conclusion of a bilateral WTO accession deal, as well as the entry into force of a new bilateral market access agreement which suspended quotas for Vietnamese textile exports to the EU.
 
The meeting discussed policy developments in Vietnam and the EU. The Vietnamese delegation presented Vietnam’s Masterplan, which sets out a strategy for the development of Vietnam-EU relations over the coming decade. The EC side welcomed the document as an excellent basis for mapping out the right orientations and steps for the next stage of the relationship, and confirmed the EU’s commitment to the creation of a comprehensive partnership with Vietnam.
 
The EC delegation briefed Vietnam on recent developments concerning the EU Constitutional Treaty, affirming the continued importance attached to relations with external partners and the EU’s engagement in the world. It commended Vietnam on its draft Socio-Economic Development Plan for the 2006-2010 period. It would align its future development assistance under the EC-Vietnam Country Strategy Paper for 2007-2013 to the plan.
 
Vietnam briefed the EC on the status of its WTO accession process and how it plans to prepare for accession. The EC side expressed its continued support to Vietnam’s speedy accession. The two parties agreed on the usefulness of the Trade Needs Assessment study implemented by the EC with an aim to help identify and priorities Vietnam’s trade-related assistance requirements in the coming years.
 
The Vietnamese side reiterated its wish that the EC should grant it Market Economy Status’ the EC side indicated that it was examining Vietnam’s request carefully and confirmed that the ongoing antidumping investigation into Vietnam’s footwear exports would be handled objectively and transparently. Business Cooperation Contract (BCC) between Comvik and MobiFone was considered the most successful run in telecom business. Comvik carried out great efforts toward enhancing Vietnam – Sweden ties, in particular “Vietnam Day” in Sweden was considered one of the most successful events organized in other countries. Regarding the good business cooperation between great EC corporations and Vietnam, such as the smooth ten-year cooperation between Kennevik – Comvik and VMS, Mr. Eneko Landaburu advised that the EC hope to see more successful business cooperations such as telecom corporation Comvik with VMS during the past time. The implementation of Vietnam’s commitments under the market Access Agreement and discussions on an agreement on geographical indications were also high on the agenda of the meeting.
 
The two parties briefed each other on regional issues, such as EC-ASEAN co-operation on economic integration under the “Trans-regional EU-ASEAN Trade Initiative” (TREATY), the “Regional EU-ASEAN Dialogue Instrument” (READI) and the progress of the Vision Group on a possible EU-ASEAN Free Trade Area. The Joint Commission underlined the need for a long-term response to the avian influenza epidemic at both nation and regional level. Vietnam informed the EC of the measures it had taken so far in dealing with the epidemic.
 
Vietnam presented its views on the future development of, and its role within, ASEAN in general and in the implementation of the Vientiane Action Programme in particular. The EC signaled its readiness to continue supporting the regional integration process of ASEAN and its wish to see Vietnam taking a proactive role in this context.
 
The Joint Commission endorsed the minutes of the Sub-Group on Co-operation in the areas of Institution Building and Administrative Reform, Governance and Human Rights, of the Working Group on Co-operation, and of the Working Group on Trade and Investment. The two parties in particular welcomed the work commenced by the Sub-Group on Co-operation in the areas of Institution Building and Administrative Reform, Governance and Human Rights, which complements the existing EU-Vietnam Human Rights Dialogue at the level of EU Troika Ambassadors.
 
It was agreed that the next session of the Joint Commission would be held in Brussels in 2007.
Thi Van