Vietnam Economy ILO welcomes European Parliament’s approval for free trade deal with Vietnam By Pham Nhat Thursday, Feb 13, 2020,15:55 (GMT+7) ILO welcomes European Parliament’s approval for free trade deal with VietnamBy Pham Nhat Workers at Phuong Nam Garment Trading Import and Export JSC in Go Vap District, HCMC. EVFTA has strong labor and environment requirements for sustainable development – PHOTO: VNA HCMC – The International Labor Organization (ILO) welcomed the European Parliament’s vote in favor of the free trade agreement (FTA) between the European Union and Vietnam on February 12, as it is expected to bring many economic benefits to both parties. The agreement, known as EVFTA, was signed by both parties in Hanoi on June 30, 2019. The EVFTA is a new generation FTA with strong labor and environment requirements for sustainable development. “There has been a growing and legitimate concern across the world that the free flow of trade could broaden inequality between and within nations and could damage the environment. The new generation of FTAs attempts to address the sustainability challenge of free trade by incorporating labor and environment requirements,” stated ILO Vietnam Director Chang-Hee Lee. Chapter 13 on Trade and Sustainable Development requires that Vietnam and the European Union… Read full this story
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