S&Ds welcome trade deal between EU and Vietnam as tool to promote growth and welfare

Today the Commissioner for international trade Cecilia Malmström announced the conclusion of a free trade agreement (FTA) between Vietnam and the EU. The S&D Group in the European Parliament welcomes the first modern trade agreement between the EU and a developing country. They underline that this agreement is based on partnership and cooperation, and it should enforce sustainable growth and human rights.
S&D spokesperson on international trade, David Martin MEP, said:
"Southeast Asia is a rapidly growing market and it is welcome news that the EU has reached a deal with Vietnam.
"With Chinese, American and Asia-Pacific investment expanding into the Vietnamese market it's vital that the EU stays competitive to help create more jobs in Europe.
"But this FTA must do more than stimulate trade. It must be a tool to promote environmental, human rights, labour and animal welfare standards in Vietnam.
"The S&D Group will now analyse the deal closely to ensure it is a robust framework to promote these values."
S&D shadow rapporteur for this trade agreement, Alessia Mosca MEP, said:
"I have closely followed the progress of the negotiations in the last year, and I think this is a very important result, to be welcomed with great satisfaction. First because, despite the difficulties of these months, the EU institutions are continuing their work, using all the possible tools for economic recovery, for which trade agreements like this are a mainspring.
"This agreement, in particular, is also a strategic opening to the Asian continent and it could be another model for future agreements with other countries in the area.
"Our negotiators, in fact, have achieved great results; such as the recognition of geographical indications, the opening of public procurement markets and the reduction of import duties for some products which are of strategic importance for the European Union."