On February 12, 2020, the European Parliament ratified the EU-Vietnam Free Trade Agreement (EVFTA) receiving 401 votes in favor, 192 against and 40 abstentions. On the same day, the EU-Vietnam Investment Protection Agreement (“EVIPA”) was also approved marking a historic step in EU-Vietnam trade relations. Both agreements were already officially signed in Hanoi In June 2019.

After a period of steady growth, in 2019, Vietnam's shrimp export value was only US$ 3.36 billion, down 5.4% compared to 2018. However, the prospects for shrimp exports in 2020 are quite bright, with positive signals from big markets and some emerging markets.

India is under pressure to give its approval to the World Food Programme (WFP) initiative at the World Trade Organization (WTO) that would exempt food purchases for humanitarian purposes from export restrictions as most other members have given it a go-ahead, an official close to the development has said.

In the long run, the collaborations between Singapore firms and firms in the European Union (EU) will be more seamless, courtesy of the landmark trade pact between Singapore and the EU that became binding in November 2019. The pact emphasises key foundations like standardising and simplifying customs procedures.

Minister of Planning and Investment Nguyen Chi Dung has affirmed that India is a major trade partner and investor of Vietnam, urging the two sides to spare no efforts to soon realise the target of bringing bilateral trade to 15 billion USD.

The coronavirus outbreak could cause more damage to the Vietnamese economy than the government anticipates, investment fund Vinacapital has warned in a report.

The European Parliament (EP) on February 12 ratified the European Union Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA). The next step before the agreements can come into force is the ratification of the agreement by the National Assembly of Vietnam which is expected in May 2020.

President Donald Trump’s phase one deal could move the world closer to free trade and ultimately save the World Trade Organization.

Though Vietnamese textile and garment firms are aware of the opportunities the European Union (EU)-Vietnam Free Trade Agreement (EVFTA) offers to expand export markets, they are facing difficulties in complying with the rules of origin. Though the ministry of planning and investment hopes the sector’s export turnover to the EU will increase by 81 per cent, firms are sceptical.

Enterprises should participate in the legislation process of Vietnam’s commitments to the EU-Vietnam Free Trade Agreement (EVFTA) in order to make the most of it, a representative from the Vietnam Chamber of Commerce and Industry (VCCI) has said.