The European Union agreed on Wednesday to open its markets wider to Vietnam, whi...
STRASBOURG/BRUSSELS - The European Union agreed on Wednesday to open its markets wider to Vietnam, while closing its trade doors to Cambodia, rewarding Hanoi for its progress on labour guarantees and sanctioning Phnom Penh for human rights abuses.
In Strasbourg, EU lawmakers voted by 401-192 to approve a free trade agreement with Vietnam. It is the most comprehensive pact of its kind struck by the EU with a developing country, and only its second - after Singapore - with a member of the Association of Southeast Asian nations . Vietnam Industry and Trade Minister Tran Tuan Anh called the agreement a “significant milestone” in relations and said it should take effect in July. Garment, footwear and wood furniture industries would be the chief Vietnamese beneficiaries, he said.
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