The EVFTA is expected to give Vietnamese companies better access to European markets, thus ensuring Vietnam’s economic security.

The trade pact will erase import tax for Vietnamese products. In exchange, Vietnam is expected to become more attractive to European investors.

National Assembly deputies vote to approve the Europe-Vietnam Free Trade Agreement (EVFTA) and the Europe-Vietnam Investment Protection Agreement (EVIPA).

The trade pact is expected to boost Vietnam’s total gross domestic product (GDP) by 2.4 per cent and exports by 12 per cent by 2030.

The EVIPA will help Vietnam strengthen its important political and economic position in the Southeast Asia and Asia-Pacific regions, heightening the nation’s status in ASEAN and other international organisations.

The investment protection deal will encourage Vietnam to keep working to complete its legal system and improve the investment and business environment for all investors.

The EVIPA will replace 21 bilateral investment protection agreements that Vietnam has with European governments. The agreement contains four chapters, 92 articles and 13 appendices.

The ratification of the two deals will help tighten the bond between Vietnam and the European Union in economic development, trade and investment.

On the same day, NA deputies also passed the resolution that allows Vietnam to join the International Labour Organisation’s Convention 105 on abolition of forced labour.

Veggie, fruit exporters seek new markets through EVFTA

The recent ratification of the European Union-Vietnam Free Trade Agreement (EVFTA) by the European Parliament (EP) is expected to help with the market expansion of Vietnamese farm produce, including fruits and vegetables, in the face of the coronavirus outbreak disease (COVID-19), according to insiders.

EVFTA gives new boost to Vietnam-Czech Republic economic ties

The European Parliament (EP)’s ratification of the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement on February 12 has been applauded in the Czech Republic.

Gov’t to issue lists of preferential tariffs under EVFTA

The Government is set to issue a decree on the lists of preferential export tariffs and special preferential import tariffs to implement the EU-Vietnam Free Trade Agreement (EVFTA) when the deal comes into force in Vietnam.

EVFTA, EVIPA improve Vietnam’s position in world arena

The European Parliament (EP) on February 12 ratified the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA). The trade pacts help Vietnam enhance its role in the world arena.

European Parliament ratifies EVFTA and EVIPA

The European Parliament (EP) on February 12 ratified the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA).

Source: VNS