The Vietnam - UK Free Trade Agreement (UKVFTA) was officially completed on December 11, 2020 and signed on December 29, 2020. The Agreement was negotiated based on the principle of inheriting commitments in the EU-Vietnam Free Trade Agreement (EVFTA) with the necessary adjustments to ensure compliance with the bilateral trade framework between Vietnam and UK.
Accordingly, the Agreement includes 9 articles; 01 Annex amending some of the EVFTA text; 01 Protocol and 01 bilateral letter exchanged between Vietnam and UK. Basically, the contents of the UKVFTA are similar to that of the EVFTA, including: trade in goods (including general regulations and market access commitments), rules of origin, customs and trade facilitation, Sanitary and Phytosanitary measures (SPS), technical barriers to trade (TBT), trade in services (including general regulations and market access commitments), investment, trade remedies, competition, SOE, government procurement, intellectual property, trade and sustainable development, cooperation and capacity building, and legal and processing.
The Agreement will come into effect on December 31, 2020.
Below is the detailed contents of the Agreement.
- China must prove ‘track record of compliance’ with free, open trade if it wants to join CPTPP
- Enterprises plan to prepare for production recovery
- Speeding up shrimp exports to the EU
- Bangladesh's FTA with Singapore - A stepping stone towards the ASEAN market
- Garment, footwear industries struggle during pandemic