The two sides entered into negotiations on FLEGT-VPA in October 2010. All FLEGT-licensed timber and timber products from Vietnam will be considered legal and as such not subject to the requirements of the EU Timber Regulation.
The EU, which makes up about one fourth of world consumption, is now the fourth largest importer of Vietnam’s timber and wood products, after the US, Japan and China. In the first eight months of 2015, Vietnam’s timber and wood product exports to the EU fetched 442 million USD, while its timber imports from the bloc was 111 million USD.
The high-level negotiations followed by technical expert group and 5-level negotiations to be held in Hanoi and Brussels in recent years, creating a foundation basis for the conclusion of Agreement. The next negotiating session will be held in Brussels in early June of 2016.
