The Ministry of Foreign Affairs, in collaboration with relevant ministries and agencies, on June 18 handed over notes notifying Vietnam's ratification of two important trade and investment agreements with the European Union to the EU Delegation to Vietnam.

Deputy Foreign Minister Pham Thanh Son hands over
the notes to EU delegation chief Giorgio Aliberti in Hanoi 

Addressing the event, Deputy Foreign Minister Pham Thanh Son stressed the European Parliament’s February 2020 ratification and the Vietnam National Assembly’s June 2020 ratification of the EU-Vietnam Free Trade Agreement (EVFTA) and EU-Vietnam Investment Protection Agreement (EVIPA) strongly demonstrates both sides’ desires, interests and determination to further deepen and elevate their comprehensive cooperation partnership after 30 years of establishing diplomatic relations.

He proposed that relevant ministries and agencies of Vietnam and EU agencies continue to work closely to enforce the EVFTA as soon as possible, thus bringing practical benefits for people and businesses of both sides. He also proposed that EU member states complete the ratification of the EVIPA at the earliest possible time.

Ambassador of the European Union Delegation to Vietnam Giorgio Aliberti congratulated the National Assembly and the Government of Vietnam on completing the ratification of the two agreements. He affirmed that the two sides' ratification of the two agreements is a historic milestone, creating important legal frameworks for promoting EU-Vietnam multifaceted cooperation, especially on trade and investment.

He said the EU would work closely with Vietnam to effectively implement the EVFTA, while encouraging its member states to ratify the EVIPA soon.

The EVFTA is expected to take effect on August 1, 2020, while the EVIPA is awaiting approval from the parliaments of all EU member states before coming into force.