European trade talks begin - Politics & Laws | Politics, Business, Economy, Society, Life, Sports - VietNam News

Updated

July, 04 2012 10:07:14

European trade talks begin

HA NOI — The Ministry of Industry and Trade yesterday announced that the European Free Trade Association (EFTA) had recognised the market economic mechanism in Viet Nam and that negotiations had begun for a free-trade agreement.

This was the thrust of a Memorandum of Understanding signed yesterday by Minister of Industry and Trade Vu Huy Hoang and Norwegian Ambassador Stale Torstein Risa. Norwy is acting as EFTA co-ordinator.

The ministry said recognition of Viet Nam's market economy by EFTA and another 30 countries proved that efforts in economic restructuring and integration had worked. It added that the agreement would match the principles of the World Trade Organisation in the trading of goods and services and in investments.

EFTA, founded in 1960, is an intergovernmental organisation set up for the promotion of free trade and economic integration. — VNS

Send Us Your Comments:

Name:

Your E-mail address:

Title:

VietNamNews may edit your comments and not all emails will be published.

Hightlight

Income not the only measure of poverty

Viet Nam's poverty rate is estimated at around 10 per cent but the number of people who do not achieve social well-being is believed to be much higher. It's necessary to go beyond income when defining people's experiences.

Clouds cover VN weather forecasting

Viet Nam has so far only accomplished 30 per cent of the workload to modernise weather forecasting technology and upgrade monitoring systems.

Viet Nam private equity outlook bounces back

Investors viewing Viet Nam's investment environment favourably has increased over the last six months, according to a bi-annual survey on the nation's private equity outlook done by Grant Thornton Vietnam.

City taxi inspectors urged to crackdown on violations

Taxis operating in HCM City will be subject to greater scrutiny and punishment in the coming months, says Duong Hong Thanh, deputy director of the city's Transport Department.

Shares slide but outlook remains bright