The EC said in its statement released on March 2 that work to start the official negotiations and an agreed framework for an FTA is underway. However, a specific time for the negotiations has yet to be fixed.

“The commission will discuss next steps with the European Union Council and the Parliament,” the statement said.

Vietnam is the EU’s 5^th largest trade partner within ASEAN. Annual bilateral trade increased by about 12 percent during 2004-08 and hit US$16.23 billion in 2008.