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The European Union (EU) paint and coatings sector has been given better access to Vietnam’s growing market, in exports and investments, through a new free trade agreement negotiated between the EU and the Vietnamese government.
Both sides have agreed to scrap almost all tariffs (more than 99%) on goods traded between them. EU duties will be phased out over seven years from the agreement coming into force and Vietnam duties 10 years, although 65% will be scrapped immediately. Vietnamese duties currently include 10% on anti-fouling paints for ships; 5% leather paints – acrylic or vinyl; and 20% on polyurethane tar coatings, for example.
There is an export trade to build on the EU exported to Vietnam US$7.2M’s worth of non-aqueous polymer-based paints and varnishes in 2013; US$15.7M’s worth in 2012; and US$12.8M’s worth in 2011, for instance.
As for investment, Vietnam has promised it will allow EU investment in the manufacturing of construction materials and allow EU shipping companies to provide more services to Vietnam. EU trade Commissioner Cecilia Malmström said: "This finely balanced agreement will boost trade with one of Asia’s most dynamic economies.”The deal may take until 2016 to be ratified.
Other EU paint and coatings regulatory news:
• Elsewhere in the EU, a new multi-lingual software tool has been released by the European Chemicals Agency (ECHA) to help companies make biocidal product approval applications. The new ECHA summary of product characteristics’ editor will support paperwork in 23 EU languages, as well as Norwegian, enabling companies to submit summaries in languages requested by competent authorities.
It also includes a comparison tool that shows the differences between two summaries, helping applicants identify changes between two versions for mutual recognition procedures and same biocidal products submissions.
http://echa.europa.eu/support/dossier-submission-tools/spc-editor
• An EU-funded research project has developed an innovative billboard system, where advertising images are created in situ using recyclable and re-usable inks.
The aim of the SPABRINK project was to create an alternative to standard billboards and their toxic inks and electronic images, which consume large amounts of energy. The European Commission has said the two year project has been "very successfully implemented”. It was to end on August 31. See www.spabrink.eu
