Today, the National Assembly Standing Committee gave opinions on the Vietnam - EU Free Trade Agreement.

Today (April 28), the Standing Committee of the National Assembly closed its 44th session. Before National Assembly Chairwoman Nguyen Thi Kim Ngan delivered her closing speech, the Standing Committee of the National Assembly gave its opinions on two important issues: the submission to the National Assembly for ratification of the Vietnam-EU Free Trade Agreement (EVFTA) and the submission to the National Assembly for ratification of the Vietnam-EU Investment Protection Agreement (EVIPA).

The Vietnam-EU Free Trade Agreement, in addition to promoting increased exports to the EU market, also has a positive impact on labor, employment and social security, bringing direct benefits to the people. Accordingly, the Vietnam-EU Free Trade Agreement is expected to help increase about 146,000 jobs each year, focusing on labor-intensive industries with high export growth to the EU market.

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The expected increase in employment in some industries such as: Textiles, footwear, air transport, water transport. From the business perspective, the Vietnam-EU Free Trade Agreement will open up new opportunities for trade and investment for Vietnamese enterprises if they are well prepared and ready to take advantage of the benefits that the Agreement brings.

On February 12, the European Parliament (EP) voted to ratify the Vietnam-EU Free Trade Agreement with 63% of the votes in favor. On March 30, the European Council also approved the Vietnam-EU Free Trade Agreement, completing the final legal procedures according to the EU's internal ratification process. Accordingly, the Vietnam-EU Free Trade Agreement was ratified by the Vietnamese National Assembly and the two sides completed the notification procedures according to the provisions of the Agreement and will officially take effect for both the EU and Vietnam.

Also today, the Standing Committee of the National Assembly gave opinions on adjusting the medium-term public investment plan for the 2016-2020 period and annually from the Ministry of Transport to the People's Committee of Da Nang City for the project of a different level intersection at the Hue Intersection, Da Nang City. It gave opinions on the draft Resolution of the National Assembly on exemption of agricultural land use tax and on submitting to the National Assembly for ratification of joining the International Labor Organization's Convention No. 105 on the abolition of forced labor./.