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Denmark embassy, CIEM sign agreement to carry out research on Vietnam-EU FTA

Denmark embassy, CIEM sign agreement to carry out research on Vietnam-EU FTA

COPENHAGEN: The Embassy of Denmark and the Central Institute for Economic Management (CIEM) signed an agreement to carry out research on the potential impacts of the Vietnam-EU Free Trade Agreements (FTA) on policy and institutional reforms in Vietnam.

“Denmark is pleased to support Vietnam in its increasing integration into the world economy. I hope the research will suggest and point out necessary policy and institutional adjustments to help Vietnam reap most benefits from the FTA” said Ambassador of Denmark, John Nielsen after the signing ceremony.

Recently, analyses on the quantitative impacts of the FTA’s tariff elimination have been made available. However, these analyses have not yet fully addressed policy and institutional adjustments needed to comply with the agreement, as well as assessed the readiness of the government and business communities once the FTA comes into effect.

“Vietnam needs thorough considerations as a small economy being engaged in a FTA with a large partner like the EU as well as Trans-Pacific Partnership (TPP) and other FTAs. The report and its conclusions will be submitted to decision makers and the recommendations will hopefully play an important role when it comes to shaping the future policy direction of Vietnam” concluded Ambassador John Nielsen.