Vietnam and the European Union will begin talks for a free trade agreement this year, EU ambassador and head of the EU Delegation, Sean Doyle, said in Hanoi Tuesday.
Speaking to the media, he said the EU will focus on three areas: trade stabilisation, services, and good trade regulations.
A free trade agreement will yield significant benefits to both sides by further facilitating trade and reducing risks, he pointed out.
The EU is Vietnam’s biggest multilateral donor, second largest export market, and biggest source of foreign direct investment.
The nation’s exports to the bloc topped $12 billion last year, 16 percent up from 2009.
Hungary is set to take over the rotating six-month Presidency of the EU in the first half of this year.