The European Commission (EC) on October 17 submitted for approval a free trade agreement (FTA) with Vietnam, the first comprehensive open market deal between the EU and a developing Asian country.
Hanoi (VNA) – The European Commission (EC) onOctober 17 submitted for approval a free trade agreement (FTA) with Vietnam,the first comprehensive open market deal between the EU and a developing Asiancountry.
Agreements on trade and investment between the EU and Vietnam will needapproval from the bloc’s 28 members and from the European Parliament (EP).
The trade deal would eliminate 99 percent of all tariffs, although some staged overa time period and some limited by quotas.
Vietnam, for example, would cut its duty on EU car imports from 78 percent tozero over 10 years and for wines and spirits, from around 50 percent, overseven years. EU companies would also be able to bid for Vietnamese publiccontracts.
In return, the EU would take seven years to eliminate its duties on certainVietnamese products, such as its major textiles, clothing and footwear exports.
Vietnam has pledged to protect 169 European food and drinks products, such aschampagne or Parmigiano Reggiano cheese.
The agreement includes a chapter on sustainable development, such asimplementing international standards on labour rights and the Paris climateaccord.-VNA
European businesses expressed their support for the signing and ratification of a free trade agreement between the European Union (EU) and Vietnam (EVFTA) at a conference on October 8.
The European Parliament (EP)'s Committee on International Trade (INTA) on October 10 held an opening hearing on the Free Trade Agreement (FTA) and the Investment Protection Agreement (IPA) between Vietnam and the European Union (EU).
The European Parliament Committee on International Trade on October 10 held an opening hearing on the Free Trade Agreement and the Investment Protection Agreement between Vietnam and the EU.
Prime Minister Nguyen Xuan Phuc, his spouse and a high-ranking delegation of Vietnam left Hanoi on October 14 morning for Vienna, Austria, to attend the 12th ASEM Summit (ASEM 12) and the Partnering for Green Growth and the Global Goals 2030 Summit (P4G).
The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
Member states also reviewed progress on six priority areas for 2025, including the development of an underground cable framework, the follow-up agreement to the ASEAN Petroleum Security Agreement (APSA), the launch of the ASEAN Energy Efficiency Database, and the rollout of an investment platform for sustainable building initiatives.
In March, Thai Prime Minister Paetongtarn Shinawatra met with Formula 1 chief Stefano Domenicali and said Thailand would commission a feasibility study into hosting a Grand Prix on a Bangkok street circuit from 2028.
The proposed giant sea wall aligns with bilateral cooperation and has been designated a national priority, considering that several regions in Indonesia are experiencing land subsidence of 10–15 centimetres per year.
International flights were cancelled including Jetstar and Virgin Australia flights to cities across Australia, and flights of Air India, Air New Zealand, Singapore's TigerAir and China's Juneyao Airlines.
The partnership aims to strengthen collaboration in the exploration and exploitation of mineral resources, including gold, copper, and manganese, as well as in the development of steel, aluminum, and renewable energy industries.
The Thai cabinet has approved a seven-year EV bus leasing scheme proposed by the Bangkok Mass Transit Authority (BMTA) for the capital, with an estimated cost of 15.35 billion THB (over 470 million USD).
Aircraft are prohibited from flying below 6,000 metres in the vicinity of the volcano, and should also remain alert to the presence of volcanic ash, which can disrupt flights.
Laos declared the transfer of the press management functions of five key media agencies and associated personnel to the Propaganda and Training Board of the Lao People's Revolutionary Party Central Committee.
Univers said in a statement that the new centre will serve as a hub for innovation, bringing together digital intelligence and climate ambition to accelerate Sarawak's transition toward a low-carbon, tech-enabled economy.
The target is to be completely free from plastic waste within two years. This can only be achieved if all parties implement the initiative with strong discipline.
Indonesia is taking new steps to improve protections for fishery workers, amid concerns over low wages, harsh working conditions, and limited access to social welfare.
The 2025 ASEAN- the Republic of Korea (RoK) Connectivity Forum that opened in Jakarta on June 17 reaffirmed a shared commitment to shaping a connected, resilient future by advancing the ASEAN Connectivity Strategic Plan.
The desk will serve as a service centre providing market intelligence, business licensing guidance, facilitating business cooperation, identifying potential investment projects, and harmonising regulatory policies between the two parties.
Malaysian Prime Minister Anwar Ibrahim noted that the Asia-Pacific region accounted for half of global energy consumption and 60% of greenhouse gas emissions in 2024. Despite this, regional countries, including eight of ten ASEAN member states, remain committed to climate goals, including net-zero emissions and tripling global renewable capacity by 2030.
Illustrative image (Photo: VNA) 
