There comes a moment in all close relationships when both parties must decide whether they will work through their problems together, or if they will engage with those problems in a state of open hostility.

As exports are facing difficulties due to the COVID-19 pandemic, the domestic market of nearly 100 million people is seen as huge potential to rescue local businesses.

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.

Vietnam has been advised to introduce a range of solutions aimed at attracting private investment in an effective manner with the private economic sector increasingly becoming a key part of the national economy,

Vietnam's garment and textile exports in the first four months fell 10 percent year-on-year to 10.63 billion USD and could fall much further as buyers cancelled orders due to COVID-19, according to the Vietnam Textile and Apparel Association (Vitas).

The Government is focusing on boosting the development of enterprises and encouraging private investment to accelerate post-pandemic economic growth.

The US was Vietnam’s leading export market in the first five months of the year, despite a slight decrease in total export turnover.

While competition between the US and China rages, it is unclear if Southeast Asia’s leadership can pursue policies that draw maximum benefit from both sides while ensuring their independence remains intact. The existing tensions between Washington and Beijing mean that leaders in Southeast Asia will struggle to find a position that pleases both partners.

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