The deal was signed in Brussels, on Friday, by Vietnamese Minister of Agriculture and Rural Development Nguyen Xuan Cuong, Austrian Chancellor Sebastian Kurz, who is the rotating President of the European Council, and Federica Mogherini EU High Representative for Foreign Affairs and Security Policy and Vice President of the European Commission . The agreement will take effect after it is ratified in accordance with each side’s law.
Minister Cuong said following the agreement, Vietnam will build its timber legality assurance system (VNTLAS) so that timber products are verified as legal according to specified requirements for all stages of the supply chain: from the forest or the point of import, to the point of final sale or export.