EU signs off on in-principle FTA with Vietnam

HANOI - The European Union and Vietnam today reached an agreement in principle for a Free Trade Agreement, following two and a half years of negotiations. It is the first agreement of its kind signed by the EU with a developing country.

Commenting on the agreement, HSBC says it demonstrates the continued importance  of Vietnam, both as a member of ASEAN and as a growing Asian economy offering a 90 million consumer market.
 Pham Hong Hai, CEO of HSBC in Vietnam, says trade between the EU and Vietnam has increased three fold in the past decade to US$28 billion annually. The proposed FTA will remove nearly all tariffs on goods traded between the EU and Vietnam. www.hsbc.com (ATI).