Hanoi (VNA) – Permanent DeputyForeign Minister Bui Thanh Son paid a visit to the European Parliament (EP)from January 13 to 16 to discuss the ratification process of the EU-VietnamFree Trade Agreement (EVFTA) and Investment Protection Agreement (EVIPA).

During the trip, the deputy minister hadmeetings with Vice Presidents of the EP Heidi Hautala and DimitriosPapadimoulis, Chairman of the EP’s Committee on International Trade (INTA)Bernd Lange, and 12 parliamentarians from key political parties in the EP likethe European People’s Party, the Social Democratic Party, the Renew Europe, theEuropean Green Party, and the European Conservatives and Reformists Party.

At the event, Son affirmed that the VietnameseGovernment treasures and highly values the recent development of the Vietnam-EUComprehensive Partnership and Cooperation in all fields.

He highlighted the significance of the EVFTA andthe EVIPA to the two sides’ political, economic and trade relations, which willcreate a framework for reinforcing the bilateral cooperation in sustainable andinclusive development, as well as the EU’s ties with ASEAN and the Asia-Pacificregion in the context that Vietnam is holding the ASEAN chairmanship in 2020.

Vietnam will continue working closely with EPleaders and EU agencies to implement all commitments in the agreements, thediplomat said, asking the INTA and parliamentarians in the EP to keep closecoordination with agencies of the Vietnamese National Assembly and Governmentto promote the scheduled ratification process so as to ensure the two dealswill take effect soon and generate practical benefits for the peoples,labourers and businesses of both sides.

For their part, EP and INTA leaders affirmed theeconomic and political importance of the two agreements to the enhancement ofthe EU’s role and stature in the Asia-Pacific region.

They said the INTA is coordinating with EPagencies to get the ratification as scheduled, and they will keep workingclosely with Vietnam in this regard.

The EU side applauded Vietnam’s preparation forthe implementation of the deals, especially the commitments related tosustainable development.

At the meetings, the EP parliamentarians alsospoke highly of Vietnam’s recent attainments in socio-economic development andintegration into the world while congratulating the country on its posts as anon-permanent member of the UN Security Council and the ASEAN Chair in 2020.

The EU will continue cooperating with andassisting Vietnam during the coming development process, including in promotingsustainable and inclusive development, they added.

The EVFTA, signed in Hanoi on June 30, 2019, hasextensive and comprehensive commitments covering economy, trade, investment,and sustainable development issues.

According to the Vietnamese Ministry of Planningand Investment, the EVFTA and EVIPA will help Vietnam raise its gross domesticproduct (GDP) by 4.6 percent and exports to the EU by 42.7 percent by 2025.

Meanwhile, the European Commission estimate thatthese agreements will help the EU add 29.5 billion USD to its GDP and increaseits exports to Vietnam by 29 percent by 2035./.