Ratifican Acuerdo comercial entre la Unión Europea y Vietnam, comenzará a regir en Agosto (en inglés)

The EVFTA and the EVIPA were signed in Hanoi on June 30, 2019, ratified by the European Parliament on February 12, 2020, and by Vietnam on June 8, 2020, after eight years of negotiations.

The EU has cited the EVFTA as the most comprehensive agreement the EU has ever concluded with a developing country. It is the second agreement between the bloc and a Southeast Asian nation after Singapore, and a further building block towards the EU’s ultimate objective of an EU-ASEAN FTA.

Vietnam will liberalize 65 percent of EU exports to Vietnam at the EVFTA’s EIF, with the remainder being gradually liberalized over a 10-year period. About 70 percent of EU imports from Vietnam will enter the EU duty-free immediately when the EVFTA takes effect and the remaining tariffs will be abolished over a 7-year period. Of note, the EVFTA will eliminate nearly all tariffs (over 99 percent), reduce regulatory and bureaucratic barriers, and list a number of Geographical Indications (GIs) for both the EU and Vietnam.

More details here

Source: USDA/June 24, 2020

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