Italy Supports Vietnam - EU Free Trade Agreement

< p > in the recent Vietnamese Vice Premier Huang Zhonghai's visit to a href= "//www.sjfzxm.com/news/index_p.asp" > Italy < /a >, Italy backed behind Vietnam's efforts to develop comprehensive relations with the EU, including the early conclusion of the Vietnam EU free trade agreement.

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During the visit, Huang Zhonghai held talks with Vice Premier of Italy, Angeli Nor Alfano, Minister of economic and financial affairs, Alfano and Minister of economic development Nonato.

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During the talks, the Italy side said that Italy's efforts to support Vietnam's development of comprehensive relations with the European Union, including the EU's early ratification of the partnership agreement (PCA), and the recognition of the full market economy status of Vietnam as soon as possible, and the early completion of the consultations on the Vietnam EU free trade agreement (P).

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< p > to promote bilateral economic relations, the two sides agreed to establish a joint committee on economic cooperation and coordination, consisting of relevant personnel from Vietnam's Ministry of industry and trade and the Italy economy.

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< p > the two countries also decided to create a favorable environment for the business of both sides and seek cooperation in several departments, including < a href= "//www.sjfzxm.com/news/index_c.asp" > textile > /a > and < a href= "//www.sjfzxm.com/news/index_c.asp > > clothing / a >

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< p > the agreement will bring huge economic benefits to Vietnam and the EU, gradually eliminate technical barriers in trade, and create opportunities for Vietnamese and EU enterprises to enhance competitiveness in the process of integration into the international economy.

At present, the European Union is an important source of foreign direct investment in Vietnam.

In 2011, the EU ranked fourth in the list of foreign direct investment investors who invested in Vietnam with a total investment of US $1 billion 770 million.

In addition, the European Union has been one of the largest sources of official development assistance (ODA) to Vietnam over the years.

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Liang Huangtai, director of the multilateral trade policy division of Vietnam's Ministry of industry and commerce, said that after the signing of the EU free trade agreement, Vietnam will create a more favorable environment for Vietnam. P, most of Vietnam's products, including agriculture, food, footwear, textiles and clothing, will enjoy zero tariffs.

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< p > therefore, trade activities will be strengthened and enterprises' investment risks will be reduced.

In addition, after the signing of the EU free trade agreement, European enterprises will increase investment in Vietnam.

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