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Establishment of Vietnam National Consultative Group withing UKVFTA

31/03/2022

The Vietnam National Consultative Group within the framework of Chapter 13 of the Free Trade Agreement between Vietnam and the UK (UKVFTA) has been officially established.

Nhóm tư vấn trong nước Việt Nam theo khuôn khổ UKVFTA đã được thành lập.
Vietnam National Consultative Group under the UKVFTA framework has been established

Minister of Industry and Trade Nguyen Hong Dien has just signed Decision 401/QD-BCT establishing and regulating the organization and operation of the Vietnam Domestic Consultative Group (DAG) within the framework of Chapter 13 of the Free Trade Agreement between Vietnam and the United Kingdom of Great Britain and Northern Ireland (UKVFTA).

The DAG Group Vietnam was established in accordance with Article 13.15 of the Trade and Sustainable Development Chapter of the UKVFTA Agreement. The members of the DAG Vietnam within the framework of the EVFTA Agreement are specified in the Appendix to Decision 1972/QD-BCT dated August 17, 2021, and the documents amending and supplementing Decision 1972/QD-BCT are also members of the DAG Vietnam within the framework of the UKVFTA Agreement.

The Vietnam DAG Group within the framework of the UKVFTA Agreement also applies the provisions of Decision 1972/QD-BCT to its functions, tasks, powers, organizational structure, working regime.

The Multiborder Trade Policy Department, Ministry of Industry and Trade temporarily performs the functions of the Secretariat of the Vietnam DAG Group in UKVFTA until the Secretariat is officially established.

UKVFTA was officially registered in London, the United Kingdom on 29/12/2020. UKVFTA is applied temporarily from January 1, 2021, and officially effective from May 1, 2021.

This Agreement is negotiated on the basis of succession of commitments in the Free Trade Agreement between Vietnam and the European Union (EVFTA) with some adjustments and amendments to align with bilateral trade relations between Vietnam and the UK.

Essentially, the commitments of Chapter 13 of the UKVFTA Agreement inherit those of Chapter 13 of the EVFTA Agreement. Accordingly, each Party must establish one or more new national advisory groups (DAGs) or consult with the existing national advisory group on sustainable development with a mandate to advise on the implementation of this Chapter.

This group or group of national consultants consists of independent representative organizations, ensuring a balanced representation between the economic, social and environmental sectors, including workers’ and employers’ organizations, enterprises and environmental organizations. 

It is well known that Vietnam has also established the Vietnam DAG Group within the framework of Chapter 13 of the EVFTA Agreement, including 06 member organizations as of March 2022.

In the first year of implementing the UKVFTA Agreement, Vietnam-UK imports reached USD 6.6 billion, up more than 17% compared to 2020, in which,  Vietnam exports to the UK more than USD 5.7 billion, up nearly 15%; imports from the UK more than USD 800 million. Thus, Vietnam exported more than 4.8 billion USD to the UK.

Under the UKVFTA six-year commitment to take effect, Britain will abolish its import duties on 99.2% of its tax lines, equivalent to 99.7% of Vietnam’s export turnover. He also pledged to review and raise the tariff quota (TRQ) for Vietnamese rice after 3 years from the effective date of UKVFTA.

Source: Bao dau tu

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