Search results
The EU–Vietnam Free Trade Agreement (EVFTA) is a free trade agreement between the European Union (EU) and the Socialist Republic of Vietnam. The EU-Vietnam Investment Protection Agreement (EVIPA) was also agreed which is a bilateral investment treaty.
- 1 August 2020
- Free trade agreement
- 30 June 2019
- The Agreement at A Glance
- Tariffs
- Rules of Origin
- Product Requirements
- Customs Clearance Documents and Procedures
- Enforcement
- Services
- Public Procurement
- Trade and Sustainable Development
- Investment
The EU-Vietnam Free Trade Agreemententered into force on 1 August 2020. The EU-Vietnam Investment Protection Agreementwill enter into force after all EU Member States have given it their formal consent. The trade agreement 1. removes customs duties, red tape and other obstacles that European firms face when exporting to Vietnam 2. makes it easier t...
For exports to Vietnam
Before the trade agreement, Vietnamese applied import duties of up to 50% on EU exports of agri-food products and up to 78% on industrial goods, such as cars and machinery. Under the trade agreement, Vietnam is legally bound to progressively reduce its tariffs within three and 10 years after August 2020.
For imports into the EU
As of 1 August 2020, approximately 84% of EU imports from Vietnam enter duty-free. Sectors that benefit from this include • pharmaceuticals • most petrochemicals (certain tariffs on petrochemicals will only be phased out after three years). The EU will phase out nearly all the remaining customs duties applying to imports from Vietnam by November 2030. The EU will continue to apply tariffs on a few products even after the end of the phase out period, including on some fish products (tilapia, s...
In order to qualify for preferential treatment, your product will need to satisfy the rules of origin under the agreement. Please check the interactive “Rules of Origin Self Assessment tool (ROSA)”in My Trade Assistantto assess whether your product fulfils the rules of origin and find out how to prepare the correct documents. General information ab...
Pharmaceutical products
For pharmaceutical/medicinal products and medical devices, the agreement ensures the use of international standards, practices and guidelines developed by the 1. World Health Organization 2. Organisation for Economic Co-operation and Development (OECD) 3. International Council for Harmonisation of Technical Requirements for Pharmaceuticals for Human Use 4. Pharmaceutical Inspection Convention and Pharmaceutical Inspection Cooperation Scheme 5. International Medical Device Regulators Forum. Re...
Alcoholic beverages
Vietnam will 1. progressively remove its high tariffs on wine (50%) and spirits (48%) over seven years and for beer (35%) over 10 years 2. ease limitations on licenses for manufacturing of beverages and for distribution 3. protect EU Geographical Indications.
Health and safety requirements - Sanitary and Phytosanitary Rules
Both the EU and Vietnam have stringent laws on food safety, animal and plant health. The trade agreement aims to make it easier to export agricultural products, while safeguarding the necessary level of protection for human, animal and plant health. Increased dialogue and trade should in time lead to increased trust between the Parties. These are some of the main benefits of this part of the agreement. The agreement’s provisions on Sanitary and Phytosanitary Rules and their implementation wil...
The trade agreement improves customs procedures, making it easier and cheaper for businesses to clear customs. To strengthen the security of the supply chain, the EU and Vietnam will enter into mutual recognition of trade partnership programmes, such as the EU ‘Authorised Economic Operators’ programme.
The agreement improves the legal framework for enforcement at all levels. Vietnamese authorities and customs officers also gain more powers and better tools to address infringements. Rights holders will be able to ask Vietnam’s customs authorities to seize and destroy goods that infringe intellectual property rights. The Southeast Asia Intellectual...
The trade agreement covers a wide range of services and provides additional market access for services providers and for investment in manufacturing. EU and Vietnam have agreed to reduce or remove certain restrictions on 1. how many firms can supply services 2. the value of services transactions or assets 3. the number of services operations or qua...
Under the agreement, public procurement will be as transparent and its procedures as fair that set out in trade agreements the EU has signed with developed and more advanced developing countries. It covers 1. all Vietnamese ministries at central level, including for infrastructure such as roads and ports, plus the Committee on Ethnic Minority Affai...
Supporting economic growth, social development and environmental protection are three basic elements for achieving sustainable development. Trade policies can have wide-ranging effects on the economy, employment, labour standards, social cohesion and the environment. It the EU wants to ensure its trade policy supports sustainable development within...
The EU and Vietnam agree to improve market access for investment in services sectors and non-services sectors, such as manufacturing. Greater access to the Vietnamese market should attract foreign investors and create opportunities for developing manufacturing in Vietnam. Restrictions on foreign investment have been eased in: 1. the food sector, su...
The EU–Vietnam Free Trade Agreement (EVFTA) was greenlighted by the European Parliament on 12 February 2020. Both the EVFTA and the Investment Protection Agreement (EVIPA) were ratified by the Vietnamese National Assembly on 8 June 2020.
The free trade agreement (FTA) between the EU and the Socialist Republic of Vietnam aims to liberalise and encourage trade and investment between the two partners. The decision marks the signing of the FTA by the Council on behalf of the EU . KEY POINTS.
As of 1 July 2013, the parties of the CEFTA agreement are: Albania, Bosnia and Herzegovina, Moldova, Montenegro, North Macedonia, Serbia, and UNMIK (on behalf of Kosovo ). Former parties are Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Slovakia, and Slovenia.
Jan 15, 2016 · The EU-Vietnam Free Trade Agreement (EVFTA) is a new generation FTA between Vietnam and the 27 European Union member states. EVFTA, along with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), are two FTAs with the widest scope of commitments and the highest level of commitment of Vietnam so far.
1 For greater certainty, for Viet Nam the relevant forms of legislation, law or laws and regulation at the central level or local level are provided for in the Law No. 80/2015/QH13 of 22 June 2015 on the Promulgation of Legal Normative Documents, as amended.
