Vietnam Eu Investment Protection Agreement

Under the EU, the EU provides the same thresholds as it applies under the WTO Public Procurement Agreement (GPA) and other free trade agreements, while Vietnam has a 15-year transitional period with higher thresholds. Both the EU and Vietnam are committed to opening up public procurement to the central government, sub-headquarters and other entities, as outlined in the annexes to the agreement. In particular, the EU is committed to opening the same central public bodies as in the WTO, with some exceptions. Vietnam is committed to opening the procurement processes of 20 headquarters, including several ministries, departments and sub-agencies, two sub-central agencies (Hanoi City and Ho Chi Minh City) and 42 "other covered entities", including Vietnam Railways and Vietnam Electricity.2 Are inspired by some of the small businesses eagerly awaiting the EU-Vietnam trade agreement. , or domestic bidders with EU private equity, as well as Vietnamese bidders, when the government buys goods or requires a service above the specified threshold. Vietnam is committed to respecting the general principles of national treatment and non-discrimination. It will publish information on public procurement and post-price information at Bao Dau Thau – a public procurement newspaper – as well as information on the procurement system on and the Official Journal in due course. It will also give suppliers sufficient time to prepare and submit applications for participation and reactive offers and respect the confidentiality of offers. EvFTA also requires its contracting parties to evaluate bids on the basis of fair and objective principles, to evaluate and award bids only on the basis of criteria set out in notices and tender documents, and to implement effective claims and dispute resolution regulations. These rules require contracting parties to ensure that their tendering procedures are consistent with commitments and the protection of their own interests, which will help Vietnam resolve its problem of obtaining offers from low-quality but inferior service providers. Under the EVFTA, a permanent dispute resolution system will be put in place to deal with disputes related to the investment protection provisions of the free trade agreement, such as. B protection against expropriation without compensation.

The agreement provides for overall preferential treatment for both goods and services, recognition and protection of geographical indications for more than 200 products, liberalisation of procurement rules and obligations on cartels and mergers. It also contains provisions on sustainable development, including legally binding provisions on climate, labour and human rights. This is therefore the most comprehensive agreement to date between the European Union and each ASEAN member country. The TFUE provides for Vietnam`s commitment to the World Intellectual Property Organization (WIPO) as a means of preventing unauthorized access to creative works and protecting materials exchanged through digital networks, including the internet. In particular, Vietnam has committed to joining the WIPO Copyright Treaty (1996) and the Performance and Phonogram Contract (1996) within three years of the effective date of THE TUEFTA. According to reports, the Vietnamese government is in the process of completing its internal procedures and the necessary documents to accede to the two treaties.