Evfta

Once Vietnam's parliament ratifies the trade deal, it can enter into force 30 days after Vietnam and the EU have notified each other that legal procedures have been completed.

Once Vietnam's National Assembly also ratifies the EVFTA, the agreement can enter into force, most likely in early summer 2020.

Under the growing impacts of the pandemic, market demand is forecast to plunge, while oversupply and the burden of liquidating inventories would lead to lower selling prices.

The bloc’s travel restriction, however, would not impact trade relations between Vietnam and the EU in the immediate future.

Vietnam should take advantage of being the second country in Southeast Asia to sign a free trade agreement with the EU to attract FDI from Europe.

The coronavirus outbreak will certainly have an effect on the global economy in the coming months. Vietnam, with its proximity and close trade and supply relationships with China, is no exception.

Despite huge interest, German healthcare companies face challenges to access the Vietnamese market.

Smooth execution of the deal will be a boost for Vietnam's economy amid a global slowdown and the ongoing Covid-19 epidemic.

The fears of coronavirus have clouded prospects for the global economy and caused difficulties for Vietnam's stock market.

“The EVFTA is a clear commitment for reliable trade based on transparent rules.”