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Business Desk

Viet Nam News

Publication Date : 24-01-2013

Vietnam and the European Union started the second round of negotiations on the Vietnam- EU Free Trade Agreement (Vefta) in Brussels on Tuesday.

The Vietnamese delegation was led by Deputy Minister of Industry and Trade Tran Quoc Khanh and the EU delegation, headed by Mauro Petriccone, Director for Asia and Latin America of the European Commission's Directorate General for Trade.

The four-day talks will focus on the exchange of goods and services, investment, intellectual property, labour and environmental issues.

Following the success of the first round which took place in Hanoi in October last, the second round is expected to speed up Vefta negotiation process as agreed by both sides' leaders.

The two sides plan to hold four rounds of talks this year.

The EU is Vietnam's largest export market with a turnover of US$20.3 billion last year, up 22.71 per cent over the previous year. Vietnam's main export staples to the EU include footwear, textiles and garments, coffee, seafood, computers and components, and wood products.

Once the FTA is signed, it will help promote trade and investment co-operation between Vietnamand the EU, bringing practical benefits to the business communities and people of both sides.