Vietnam Trade Agreement

13 Oct

In the short term, it is the product categories with a large share or rapid growth rate of trade in goods between the two countries that are expected to benefit most from EIFTA. These product categories can be divided into three groups. The first group consists of products made by Vietnam, including clothing, shoes, seafood, coffee, fruits and nuts. The second group includes products manufactured by the United Kingdom, including pharmaceuticals, pulp, vehicles and spare parts. Britain is Vietnam`s second largest export market in Europe, according to the Vietnamese Ministry of Commerce. Read more: Poland gives unlikely boost to Vietnamese trade On June 8, 2020, the Vietnamese National Assembly unanimously ratified the new Vietnam-European Union Free Trade Agreement (“AEVNA”) and the EU-Vietnam Investment Protection Parallel Agreement (EUVIPA). It was preceded by the approval of both agreements by the European Parliament on 12 February 2020. The ALER came into force on 1 August 2020. EUVIPA, which falls under the shared competence1 of the EU and its Member States, is currently ratified at national level by the regional and national parliaments of the EU Member States.

The AIEUE is set out below. We will examine EUVIPA separately whether this agreement should be ratified and enter into force. Vietnam has also been a powerful engine of ASEAN`s international trade, especially with its major trading partners.