{"id":35035,"date":"2020-02-08T03:00:48","date_gmt":"2020-02-08T02:00:48","guid":{"rendered":"https:\/\/www.cde.ual.es\/?p=35035"},"modified":"2020-02-07T09:45:22","modified_gmt":"2020-02-07T08:45:22","slug":"eu-vietnam-trade-deal-interview-with-mep-geert-bourgeois","status":"publish","type":"post","link":"https:\/\/www.cde.ual.es\/en\/eu-vietnam-trade-deal-interview-with-mep-geert-bourgeois\/","title":{"rendered":"EU-Vietnam trade deal: interview with MEP Geert Bourgeois"},"content":{"rendered":"<p><strong>Geert Bourgeois, the MEP in charge of steering the agreements through Parliament, explains the economic, social and environmental benefits.<\/strong><\/p>\n<p><a href=\"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2020\/02\/night-4639069_1920.jpg\"><img decoding=\"async\" class=\"aligncenter size-medium wp-image-35032\" src=\"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2020\/02\/night-4639069_1920-300x200.jpg\" alt=\"\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2020\/02\/night-4639069_1920-300x200.jpg 300w, https:\/\/www.cde.ual.es\/wp-content\/uploads\/2020\/02\/night-4639069_1920-768x512.jpg 768w, https:\/\/www.cde.ual.es\/wp-content\/uploads\/2020\/02\/night-4639069_1920-1024x683.jpg 1024w, https:\/\/www.cde.ual.es\/wp-content\/uploads\/2020\/02\/night-4639069_1920.jpg 1920w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<h3><strong>Overview of what changes the EU-Vietnam trade deal would bring about<\/strong><\/h3>\n<p class=\"ep-wysiwig_paragraph\">The aim is to eliminate 99% of tariffs within seven years. This should result in \u20ac15 billion a year in additional exports from Vietnam to the EU by 2035, while EU exports to Vietnam would expand by \u20ac8.3 billion annually. Of course, every \u20ac1 billion of EU exports results in around\u00a014,000 new, well-paid jobs\u00a0here in the EU. The agreement is also totally in line with our ambition of the\u00a0EU as a global player.<\/p>\n<h3><strong>Current economic relations with Vietnam<\/strong><\/h3>\n<p class=\"ep-wysiwig_paragraph\">There is trade and investment but not enough. It\u2019s a vibrant market with a young population. With economic growth of 6-7% every year, Vietnam is very interesting for European investors.<\/p>\n<p class=\"ep-wysiwig_paragraph\">In 2018, the country exported goods worth about \u20ac42.5 billion to the EU. In the other direction, we exported around \u20ac13.8 billion worth of goods. With this rules-based, free-trade agreement, there will be an increase in exports both ways.<\/p>\n<h3>Geopolitical importance<\/h3>\n<p class=\"ep-wysiwig_paragraph\">China is a neighbour of Vietnam. There are also close relations with the US. It is very important that we strengthen our ties with the country. We\u2019ve been negotiating for eight years and it\u2019s important that we come to an agreement now. If not, I\u2019m sure Sino-Vietnamese relations will become more important.<\/p>\n<p class=\"ep-wysiwig_paragraph\">Additionally, as the first trade deal of the\u00a0new European Parliament, we must show we want to set standards worldwide, all while creating prosperity and new jobs.<\/p>\n<h3><strong>Investment protection agreement with Vietnam<\/strong><\/h3>\n<p class=\"ep-wysiwig_paragraph\">The agreement aims to ensure predictability and rule-of-law for investors. In case of litigation, there will be a framework. Vietnam has accepted a modern [investment court system], similar to the one\u00a0the EU agreed with Canada, with independent judges, a code of conduct and easy access for SMEs. This creates stability and trust for our small businesses.<\/p>\n<h3><strong>The environment and labour standards<\/strong><\/h3>\n<p class=\"ep-wysiwig_paragraph\">I am well aware of the concerns, but trade agreements like this are a lever to improve standards outside the EU. On labour conditions, Vietnam is obliged to implement all the\u00a0ILO conventions, and integrate them into its labour code. Moreover, until now, there has been no freedom of association for unions, but Vietnam has adapted its penal code.<\/p>\n<p class=\"ep-wysiwig_paragraph\">On\u00a0the environment, Vietnam is bound to the\u00a0Paris agreement. The EU is working towards carbon neutrality and we must create a level playing field with other countries. If we are doing our best, we should expect the same of others, so the trade deal has a climate aspect.<\/p>\n<h3>Human rights issues in Vietnam<\/h3>\n<p class=\"ep-wysiwig_paragraph\">We are very concerned about political prisoners and have stressed to the Vietnamese authorities\u00a0the importance of human rights. Vietnam is responding in a positive manner and from this month a European Parliament delegation will monitor the situation. We have also agreed the establishment of an inter-parliamentary delegation between Parliament and Vietnam\u2019s national assembly.<\/p>\n<p class=\"ep-wysiwig_paragraph\">Of course, I am completely aware that the glass is not full, but I call on my fellow MEPs to give their consent, as this agreement is a lever to improve the situation. There are obligations Vietnam will need to fulfil on labour, the environment and human rights, and we will monitor this.<\/p>\n<h3><strong>Next steps<\/strong><\/h3>\n<p class=\"ep-wysiwig_paragraph\">For the free trade agreement, the approval of EU national parliaments is not required.\u00a0The Commission\u00a0will have a mandate to implement it straightaway. Getting towards zero tariffs and the reduction of non-tariff barriers will be gradual until 2035.<\/p>\n<p class=\"ep-wysiwig_paragraph\">With the investment protection agreement, however, as justice is a competence of the member states, it will need the approval of all EU parliaments, and this will take some time.<\/p>\n<h3>More Information<\/h3>\n<p><a href=\"https:\/\/www.europarl.europa.eu\/news\/en\/headlines\/economy\/20200131STO71518\/eu-vietnam-trade-deal-what-are-the-benefits\">Full News<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Geert Bourgeois, the MEP in charge of steering the agreements through Parliament, explains the economic, social and environmental benefits. Overview of what changes the EU-Vietnam trade deal would bring about The aim is to eliminate 99% of tariffs within seven years. This should result in \u20ac15 billion a year in additional exports from Vietnam to [&hellip;]<\/p>\n","protected":false},"author":101011,"featured_media":35033,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[346],"tags":[779,727,1193,1194],"class_list":{"0":"post-35035","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eu-news","8":"tag-eu-en","9":"tag-market","10":"tag-trade-deal","11":"tag-vietnam-en","12":"entry"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>EU-Vietnam trade deal: interview with MEP Geert Bourgeois | CDE Almer\u00eda - Centro de Documentaci\u00f3n Europea - Universidad de Almer\u00eda<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cde.ual.es\/en\/eu-vietnam-trade-deal-interview-with-mep-geert-bourgeois\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EU-Vietnam trade deal: interview with MEP Geert Bourgeois | CDE Almer\u00eda - Centro de Documentaci\u00f3n Europea - Universidad de Almer\u00eda\" \/>\n<meta property=\"og:description\" content=\"Geert Bourgeois, the MEP in charge of steering the agreements through Parliament, explains the economic, social and environmental benefits. 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