At the workshop (Photo: VNA) HCM City (VNA) – Joining the Comprehensive and Progressive Agreement for Trans PacificPartnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA) offers Vietnaman opportunity to modernise its labour laws and improve labour quality andproductivity, heard a workshop in Ho Chi Minh City on December 4.
According to theMinistry of Labour, Invalids and Social Affairs (MoLISA), Vietnam’s commitmentsin the CPTPP and EVFTA have contributed to maintaining and increasing foreigninvestment in Vietnam and helped Vietnamese businesses raise theircompetitiveness, boost exports and further integrate into the global supplychain.
Speaking at theworkshop, themed “Labour commitments of Vietnam in CPTPP and EVFTA,” MoLISADeputy Minister Doan Mau Diep said the discussions aimed to serve the amendmentof Vietnam’s Labour Law.
The ministry isconsidering ratifying the International Labour Organisation (ILO)’s conventionsNo. 98, 105 and 87 to display Vietnam’s commitments in new-generationagreements, the official said.
Besides, theministry has popularised labour commitments in CPTPP and EVFTA, revised theLabour Law and issued guidance documents, he added.
Dao Quang Vinh,Director of the MoLISA’s Institute of Labour Science and Social Affairs, saidthe deals are expected to create a larger global free trade area and generatemore jobs, especially in areas of Vietnam’s strength like garment-textile,leather and footwear, wooden furniture production, food processing and coffee,while improving wages.
Delegates at theworkshop also discussed Vietnam’s preparations for labour commitments in CPTPPand EVFTA in terms of institutions and human resources, along with theimplementation of international labour standards at enterprises.
The CPTPP was signed in Santiago, Chile, on March 8, 2018 byAustralia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru,Singapore and Vietnam.
Of the 11, seven countries have ratified thepact, with Vietnam finishing its procedures on November 12. Earlier, NewZealand, Canada, Japan, Mexico, Singapore and Australia ratified the deal.
The deal, to take effect at the end of thisyear, is expected to bolster economic growth, create more jobs, alleviatepoverty and improve living quality in the member states.
It will create one of the world’s largest freetrade blocs with a market of about 500 million people and a GDP of 10.1trillion USD, accounting for 13.5 percent of global GDP.
The accord is expected to increase Vietnam’s GDPby 2.01 percent by 2035, according to the Ministry of Planning and Investment.
The EVFTA is a new-generation trade agreement between Vietnamand the 28 EU member countries. Negotiations for the deal concluded on December1, 2015. The official text of the agreement was published on February 1, 2016.
The European Commission (EC) on October 17 agreed to submitthe EVFTA to the European Council to seek its approval for the official signingof the deal.-VNA
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