Trade Deal

Preferential treatments from the EU-Vietnam Free Trade Agreement (EVFTA) have been best utilized by Vietnamese enterprises among trade deals of which the country is a party.

SMEs are having huge opportunities for development with the presence of free trade agreements, the Industry 4.0 and new business models.

There could be a shift in trade movement as Vietnam’s trading advantage against China is diminished given the presence of the RCEP.

The bilateral trade deal will ensure the continuity in trade relations between the UK and Vietnam after the Brexit’s transitional period ends on December 31, 2020.

The trade deal is expected to spark new opportunities for Vietnam as one of the few Asian countries to secure an exclusive FTA with the UK.

The EVFTA does not limit to a removal of import tariffs, but also open up opportunities for Vietnam to continue its institutional reform for a more transparent, predictable and fair business environment.

The trade deal will open a new chapter in the Vietnam – UK relations, UK International Trade Secretary Liz Truss has said.

A trade deal in place will help ensure continuity in trade relations between the UK and Vietnam after Brexit’s transitional period ends on December 31, 2020.

Such a deal would ensure a more comprehensive bilateral cooperation in various spheres, especially economy and trade, stated the Spokesperson of Vietnam’s Ministry of Foreign Affairs Le Thi Thu Hang.

Vietnamese exporters might find it easy to meet the required rules of origin for their products as a significant portion of its production input is sourced from China and South Korea.