Center for WTO & International Trade (WITC)

EVFTA and Vietnam's banking, insurance, securities sectors

07/01/2020    62

Time: 2019

By: WTO and International Trade Center, VCCI

Vietnam – EU Free Trade Agreement (EVFTA) was signed at 30 June 2019 and is under the internal ratification for officially coming into force. 

Financial services (banking, insurance, securities) are the sectors with remarkable commitments in EVFTA towards (i) open Vietnam market at a higher level than WTO commitments; (ii) set minimum standards in government management for these services. Meanwhile, EU has advantages of financial services. Therefore, EVFTA is forecasted to have a significant impact on the future of Vietnam's financial market.

The booklet provide (i) EVFTA-EVIPA commitments relating to finance, (ii) various impacts of these commitments to finance sector, related sectors and Vietnam economy, (iii) recommendations to exploit opportunities and overcome challenges from these commitments.

The booklet in Vietnamese is attached below.