The EU-Vietnam Free Trade Agreement (EVFTA) will reduce and even eliminate customs duties on imports and exports between Vietnam and all 28 Member States of the European Union. Investment from Europe is expected to bring innovative technology and knowledge which can raise Vietnam's industrial added value and facilitate its global economic integration. According to a recent study assessing the impact of the EVFTA, Vietnam will become the largest beneficiary of EU trade and investment in ASEAN: with a 35% increase in exports, 15% in GDP and 13% in labor wages over the next few years.

The EVFTA will bring Vietnam and Europe closer – two markets that are very complementary. With European investment and Vietnam exports in goods to the EU expected to grow, positive economic effects for local enterprises and incidentally improvements on the welfare of Vietnamese citizens will follow.

Beyond the economic benefits, this new generation FTA also covers sustainability and labour-related commitments – which are now at the center of the discussion between EU and Vietnamese policy makers. The European Parliament - which holds the key to the final approval of the EVFTA and is expected to ratify the agreement in March 2019 – is closely following the progress of the three remaining core conventions of the International Labour Organization (ILO). Mr. Bernd Lange - Chairman of the Committee on International Trade Commission of the European Parliament (INTA), during his recent visit to Vietnam stressed the importance of the ratification of ILO Convention No. 87 on freedom of association, Convention No. 98 on rights to organize and collective bargaining; and Convention No. 105 on abolition of forced labor.

EuroCham is honoured to host an exclusive event with special guest speaker Mr. Nguyen Manh Cuong, Director General of the International Cooperation Department of the Ministry of Labour, Invalids and Social Affairs (MOLISA); who will share firsthand the Government's outlook on the new labour law draft and on the implementation roadmap of the remaining ILO conventions.

Ms. Sarah Galeski, Co-Chairwoman of EuroCham's Human Resources & Trainings Sector Committee, will contribute with her assessment as an international labour law expert and provide an overview of EuroCham's actions. Ms. Magdalena Ciesielska, Deputy Head of Section at the EU Delegation to Vietnam, will provide insights on the Union's assessment regarding recent labour regulation developments and activities in the context of the EVFTA..