Economy
Contracts worth $286.3 million inked at Việt Nam Int’l Defence Expo 2024
1.
 |
| The two sides reached agreement during their sixth session negotiating the Voluntary Partnership Agreement (VPA) on Forest Law Enforcement, Governance and Trade (FLEGT). — Photo cafef.vn |
HÀ NỘI Viet Nam News -— Việt Nam and the European Union have agreed that the Timber Legality Assurance System of Việtnam (VNTLAS) will be applied to wood and wood products exported to the EU, and also to other countries, as well as the domestic market.
The two sides reached agreement during their sixth session negotiating the Voluntary Partnership Agreement (VPA) on Forest Law Enforcement, Governance and Trade (FLEGT), said Deputy Minister of Agriculture and Rural Development Hà Công Tuấn at a press conference in Hà Nôi yesterday.
Tuấn stated that during this sixth session, Việt Nam and the EU also reached a consensus on applying the FLEGT licensing mechanism to timber exported to the EU.
The two sides entered into negotiations on FLEGT-VPA in October 2010. All FLEGT-licensed timber and timber products from Việt Nam will be considered legal and, as such, not subject to the requirements of the EU Timber Regulation.
The EU, which is responsible for about one-fourth of world timber consumption, is now the fourth largest importer of Việt Nam’s timber and wood products, after the US, Japan and China. — VNS
