In order for Vietnamese goods that are exported to the EU to enjoy preferential tariffs in the European Union-Vietnam Free Trade Agreement (EVFTA), businesses must obtain a thorough grasp of the provisions set out in the trade deal which stipulate very strict requirements regarding the origin of products, according to insiders.

Experts have said that traceability is a challenge for Việt Nam to boost export handicraft products to the EU in the future.

Vietnam enhances trade remedy capacity in anticipation of EVFTA

The free trade agreement between Vietnam and the European Union (EVFTA) will open up extensive potential, a new marketspace and high interactivity for the Vietnamese economy.

It is expected that the Vietnam-EU Free Trade Agreement (EVFTA) will be approved by the National Assembly on May 28 and take effect as early as July 20, 2020.

It is expected that, after being ratified by the National Assembly, the European -Vietnam Free Trade Agreement (EVFTA) will take effect from July 2020.

On February 12th, 2020, the European Parliament ratified the EU-Vietnam Free Trade Agreement (EUVFTA) and the EU-Vietnam Investor Protection Agreement (EUVIPA).

The impending European Union - Vietnam Free Trade Agreement (EVFTA) is poised to provide fresh impetus to the local economy, especially in the context of the nation making great strides to revive its economic outlook in the period following the novel coronavirus (COVID-19), according to insiders.

The Vietnam Chamber of Commerce and Industry (VCCI) said on May 27 it is actively promoting the dissemination of the EU-Vietnam Free Trade Agreement (EVFTA) among the country’s business community, helping them grasp opportunities and access incentives when the deal is implemented.

The EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA) are expected to create new momentum for the comprehensive cooperative partnership between the two sides, Vice Spokesman of the Ministry of Foreign Affairs Doan Khac Viet has said.