The parliament of Belgium’s Wallonia region held the third hearing on the European Union-Vietnam Free Trade Agreement (EVFTA) on January 19. 

Mauro Petriccione, head of the EU negotiation delegation for the EVFTA, gave a presentation before the parliament on Vietnam’s social-economic development and assessment of the country’s advantages as well as the benefits that the EU can gain when the agreement is signed.

He noted that Vietnam has a potential market and is located in one of the world’s most dynamic regions. The country has made many efforts in reforming administrative procedures and social policies.

On the trade relationship between Vietnam and Belgium, Petriccione said the annual two-way trade value reached two billion EUR (2.1 billion USD) and Belgium is Vietnam’s sixth largest trade partner in the EU.

He highlighted the fact that the EVFTA is the first agreement the EU negotiated and signed with a developing country and is a comprehensive, balanced and win-win deal. 

After the presentation of Mauro Petriccione, lawmakers raised many questions, focusing on Vietnam’s social-economic situation and added values that the EVFTA can bring to the EU and the business community.

Two more hearings on the EVFTA will be held on January 26 and 30.

VNA