Vietnam and EU agree in principle on timber trade deal

An EU-Vietnam Joint Implementation Committee will oversee implementation of the agreement once it enters into force. Until then, key elements of the interim arrangements have been agreed that will help transition to the implantation phase.

 After nearly 6 years of negotiation, the substance of the VPA has been agreed while some technical annexes still have to be finalized by the negotiators in the next few months. The EU and Vietnam expect to start the procedure to ratify the agreement in 2017.

To implement the VPA, Vietnam will develop a timber legality assurance system and other reforms outlined in the Agreement, including issuing specific legislation to ensure the legality of timber it imports for further processing.

Once fully implemented, the VPA is expected to boost confidence in the legality of timber products exported by Vietnam, and deliver wider social and environmental benefits.

Vietnam’s shipments of timber and timber products to the EU will be accompanied by a FLEGT licence, demonstrating the legal origin of these products. This will also simplify work for timber traders, as FLEGT-licensed products automatically meet the requirements of the EU Timber Regulation, which prohibits the placing of illegal timber on the EU market.

EU operators can therefore place FLEGT-licensed timber on the EU market without being subject to the due diligence provisions of the EU Timber Regulation.