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Vietnam:EU signs FTA for Vietnamese garments |
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2004-12-6
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With the signing of free trade agreement, Viet Nam will be permitted to freely export textiles and clothing to the world''s largest garment market - the European Union.
Beginning Jan. 1, 2005, Viet Nam signals a breakthrough on improving the bilateral trade between the EU and Vietnam.
As the EU consumes USD 70 billion worth of textiles annually, Vietnam will eb able to accesses this ever growing textiles market boosting the country’s economy.
Vice Trade Minister Luong Van Tu and Head of the European Commission Delegation to Viet Nam Ambassador Markus Cornaro signed the agreement which follows Vietnam’s WTO on October 9.
Minister Tuyen said the agreement was the result of very long negotiations between the two sides.
The agreement will create favourable conditions for our garment enterprises to develop on their own accord and actively enter the EU market," Tuyen said.
The minister announced that he will work in tandem with domestic garment enterprises and the Ministry of Industry next week, to discuss ways to improve the quality and competitiveness of Vietnamese products sold in the EU. |
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