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European Commission - Daily News

Daily News 04 / 08 / 2015

Brussels, 04 August 2015

EU and Vietnam reach agreement on free trade deal

The EU and Vietnam have today reached an agreement in principle in the negotiations for a Free Trade Agreement (FTA), after two and a half years of intense talks. Following a telephone conversation this morning between EU Trade Commissioner Cecilia Malmström and Vietnamese Minister of Industry and Trade Vu Huy Hoang, all issues of substance have been agreed on, and both sides have reached a mutually beneficial and balanced package. This agreement will remove nearly all tariffs on goods traded between the two economies. "We have a deal. This finely balanced agreement will boost trade with one of Asia’s most dynamic economies. It sets a new, better and modern model for Free Trade Agreements between the EU and developing countries, and establishes a good standard for the trade relationship between the EU and South East Asia as a whole." said Commissioner Malmström. “Vietnam is a growing economy and once this agreement is up and running, it will provide significant new opportunities for companies on both sides, by increasing market access for goods and services. Over 31 million jobs in Europe depend on exports, so having easier access to a growing and fast developing market like Vietnam, with its 90 million consumers, is great news. And Vietnam's exporters will now get much easier access to the EU for their products, giving an important boost to the Vietnamese economy. Both sides have worked extremely hard in the past few months to achieve this breakthrough", she added. On the basis of today’s agreement, the negotiating teams will now continue the process, settle some remaining technical issues and finalise the legal text. Once finalised, the agreement will then need to be approved by the Council and European Parliament. EU Trade Commissioner Cecilia Malmström’s press conference can be live streamed via EbS here. A press release and a detailed memo on the EU-Vietnam FTA are available online. (For more information: Daniel Rosario – Tel.: +32 229 56 185; Joseph Waldstein – Tel.: +32 229 56 184)

Mergers: Commission clears acquisition of Douglas Group by private equity firm CVC

The European Commission has approved under the EU Merger Regulation the acquisition of the Douglas Group of Germany by CVC of Luxembourg.  The Douglas Group sells beauty, perfumery, personal care and related products and services at retail level. CVC is a private equity firm. The Commission concluded that the proposed acquisition would not raise competition concerns, because there are no overlaps between the activities of CVC and its portfolio companies on the one hand and those of the Douglas Group on the other hand. The transaction was examined under the simplified merger review procedure. More information is available on the Commission's competition website, in the public case register under the case number M.7690. (For more information: Ricardo Cardoso – Tel.: +32 229 80100; Yizhou Ren –Tel.: +32 229 94889)

EUROSTAT: Industrial producer prices down by 0.1% in both euro area and EU28

In June 2015, compared with May 2015, industrial producer prices fell by 0.1% in both the euro area (EA19) and the EU28, according to estimates from Eurostat, the statistical office of the European Union. In May 2015 prices remained stable in the euro area and rose by 0.1% in the EU28. In June 2015, compared with June 2014, industrial producer prices decreased by 2.2% in the euro area and by 2.7% in the EU28. A press release is available here. (For more information: Ricardo Cardoso – Tel.: +32 229 80100; Heli Pietila – Tel.: +32 22964950)


HR/VP Mogherini to travel to Malaysia to step up EU engagement with ASEAN

Federica Mogherini, High Representative for Foreign Affairs and Security Policy/Vice-President of the European Commission, will travel to Kuala Lumpur, Malaysia on 5-6 August as part of the EU's drive to step up its engagement with ASEAN. She will attend the ASEAN Regional Forum's (ARF) annual Ministerial Meeting, Co-Chair, together with Vietnam, the EU-ASEAN Post Ministerial Conference and hold various other bilateral meetings. "Asia matters to Europe and vice versa. We have a huge stake in each other's success. I am much looking forward to discuss with ASEAN and other colleagues how we can build a stronger, modern partnership and address security challenges together. As EU we have a distinct role to play: as partner in integration with ASEAN and as a strong advocate of cooperative security and international law" said the High Representative ahead of her visit. Read the press release here. (For more information: Maja Kocijancic – Tel.: +32 229 86570; Eamonn Prendergast – Tel.: +32 229 98851)


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