People with documents at a table on the subject of negotiations with Vietnam TTIP; Source: istockphoto.com/mediaphotos

© istockphoto.com/mediaphotos

The European Commission today published the text of the EU-Vietnam Free Trade Agreement.

Minister Gabriel said: "A free trade agreement with Vietnam guarantees access for our products and services to this fast-growing market. This creates and secures jobs in Germany and in the EU. It is right and important that as from today everybody can read the details of the free trade agreement as negotiated between the European Commission and Vietnam. The debate on the agreement in the European Council and the European Parliament will start later. We have also taken a major step regarding the important issue of investment protection: Vietnam is the first country to accept the revised investment protection rules, including a transparent investment court, publicly appointed judges and an appeal mechanism, which we are also aiming at for TTIP. There will no longer be arbitral tribunals with private-sector lawyers as judges. The agreement with Vietnam is the first treaty in which modern investment protection as suggested by me to the European Commission will be put into practice."

The Bundestag and the Bundesrat must also adopt the agreement before it can enter into force. The text of the agreement will be available in German well in advance of the consultations.

For further information: the text of the agreement you can find here.

Information about modern investment protection (in German) you can find here.