The International Labour Organisation (ILO) office in Vietnam on February 12 said it welcomes the European Parliament’s ratification of the European Union – Vietnam Free Trade Agreement (EVFTA) in Paris earlier the same day, which is expected to bring economic benefits to both sides.

Illustrative image (Photo: Internet) 

The new-generation document was signed in Hanoi on June 30 last year. It comprises of important terms regarding labour and environment towards sustainable development.

ILO Vietnam Country Director Chang-Hee Lee said the deal’s requirements on labour and environment will help bring about benefits for all sides, help Vietnam achieve sustainable development and ensure that the current growth is achieved at the expense of future generation’s opportunities,

According to him, Vietnam’s entry to the EVFTA and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will make it easier for the country to modernise labour laws and industrial relations systems. The adoption of the revised Labour Code in November 2019 brought its legal framework closer to ILO fundamental conventions.

“Modern industrial relations based on recognition of freedom of association, together with better skilled workforce and effective social protection, is a key social driver for Vietnam to move towards upper middle income country in a sustainable manner,” he said.