EU-Vietnam free trade agreement delayed to 2020
The European Parliament elections, which take place May 23-26, are causing further delays for the EU-Vietnam Free Trade Agreement (EVFTA). At least that’s the outcome of the provisional agenda set by the new Romanian EU Presidency. It results in the fact that this already long-delayed trade deal won’t enter into force before 2020.
The further delay for EVFTA was recently reported by renowned Politico Pro. This report states that, according to a provisional agenda set by the new Romanian EU Presidency, EU countries are to ratify the EU-Vietnam trade agreement (plus the separated investment protection deal) at the next EU Trade Council on May 28 in Brussels.
Ratification in the European Parliament
That’s not good news for those hoping for a quick ratification of the deal. In particular as under EU rules, EU countries need to give their consent to a trade deal before it can be officially signed with the partner country shortly afterwards. Only then, can ratification in the European Parliament begin.