FESI urges Europe to complete trade deal with Vi - sportstextiles: Lea SportsTextiles

News

FESI urges Europe to complete trade deal with Vietnam

10/01/2019
The Federation of the European Sporting Goods Industry (FESI) has joined with other organisations to write to the president of the European Council, Donald Tusk. The council defines the political direction and priorities of the European Union (EU) and is a body made up mostly of the heads of government of the member states.

In the letter, FESI and the other signatories urged the council to move forward with a proposed free-trade agreement between the EU and Vietnam. They said the agreement that will boost economic growth and promote job creation both in the EU and Vietnam.

Negotiations were concluded three years ago and the agreement is now undergoing final legal review. The letter asked the council and EU member states to devote the necessary resources to finalising this review and completing the deal in the course of 2019.

“Time is of the essence,” the text said. “As a fast-developing country of more than 90 million people with a growing middle class, Vietnam will be an increasingly important consumer and sourcing market for EU companies. However, European companies are facing increased competition from countries with which Vietnam [already] has free trade agreements. EU businesses risk losing market share in important sectors in Vietnam and harming their competitiveness in the region.”

Related stories:

FESI strengthens its winter sports task force 12/06/2019

Sportstextiles.com cannot be held responsible for content if the language setting is changed from English.

The translations provided by Google Translate are automated and therefore might not be accurate and may contain incorrect, offensive or misleading language. We offer this facility as a guide only.