EU-Viet Nam Free Trade Agreement (EVFTA) is a new generation FTA between Viet Nam and 28 European Union member states. EVFTA and Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) are two biggest free trade agreements that Viet Nam ever negotiated. Viet Nam is the second country in Asia to sign a free trade agreement with the EU, after Singapore.
The ratification of EVFTA is a great opportunity for goods and businesses of both parties when the agreement comes into force. This agreement will, for the time being, help to remove two-thirds of tariff barriers; after 7-10 years, tariffs will be eliminated on almost all bilateral goods, improving market access conditions and simplifying commercial regulations. EVFTA will create great opportunities for European exporters and businesses to invest in Viet Nam and vice versa, contributing to the promotion and circulation of products and services in the cultural industry sector between Viet Nam and European Union countries.
| Name of partner | Type of entity |
|---|---|
National Assembly
| Public Sector
|
Vietnamese Government
| Public Sector
|
European Union (EU)
| Public Sector
|
Member States of EU
| Public Sector
|
Relevant agencies and organizations
| Public Sector
|