Eu Free Trade Agreement Vietnam

The European Union (EU) has signed a free trade agreement with Vietnam, one of the fastest-growing economies in Southeast Asia. This agreement is a significant milestone in the EU`s strategy towards expanding its trade relationships with Asian countries, enhancing business opportunities and creating jobs.

The EU-Vietnam Free Trade Agreement (EVFTA) eliminates most tariffs on goods traded between the EU and Vietnam and opens up new opportunities for businesses from both regions to access each other`s markets. The agreement also includes provisions on intellectual property, labor, and environmental standards, which are designed to ensure a level playing field for businesses and protect workers` rights and the environment.

The EVFTA will boost trade between the EU and Vietnam and create new opportunities for businesses. The agreement is expected to increase the EU`s exports to Vietnam by 29% and Vietnam`s exports to the EU by 18% by 2035.

The agreement makes it easier for EU firms to invest in Vietnam, opening up access to several sectors, including telecommunications, transportation, and financial services, among others. Vietnam, on the other hand, will have better access to EU markets for its products, including textiles, footwear, and agricultural products.

The EVFTA also includes a strong commitment to sustainable development, with provisions that require both parties to implement the Paris Agreement on climate change, promote sustainable management of natural resources, and work towards achieving the United Nations` Sustainable Development Goals.

In conclusion, the EVFTA is a comprehensive free trade agreement that will bring significant benefits to both the EU and Vietnam. It will create new business opportunities, increase trade, and promote sustainable development, making it a win-win agreement for both parties.