Evipa

Following the handover of the diplomatic note, the Vietnam – EU trade deal is set to take effect on August 1, 2020.

While a number of supporting policies are in place, the effectiveness of some programs is not up to expectation, said Minister of Planning and Investment Nguyen Chi Dung.

The soon implementation of both the EVFTA and EVIPA would create new driving forces for further cooperation between Vietnam and the EU.

Ambassador of the European Union Delegation to Vietnam Giorgio Aliberti has shared with Hanoitimes his comment on the effects of the EVFTA and EVIPA on the EU-Vietnam economics relations.

"This historic milestone signals the start of a new relationship with the European Union,” said a EuroCham official.

Once the deal comes into force, it would create a new driving force for the comprehensive partnership between Vietnam and the EU.

The trade deal with the EU would emphasize Vietnam’s geopolitical significance in the Southeast Asian and Asia – Pacific regions, said Vice State President Dang Thi Ngoc Thinh.

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

This is despite the fact that Vietnam’s textile and garment industry is expected to benefit the most from the deal.

A majority of support from members of the EP in a voting for EVFTA and EVIPA ratification showed the EU’s confidence in the country’s reform process, said the head EU envoy to Vietnam.