Vietnam Evfta

The soon ratification of the Vietnam-EU Investment Protection Agreement (EVIPA) is expected to usher in a new phase in bilateral trade and investment cooperation.

The implementation of free trade agreements (FTAs) has had a positive impact on Vietnam's exports, imports, and investment attraction.

To date, ten out of the 27 EU countries have ratified the agreement.

The country has posted a trade surplus of nearly $11 billion.

Vietnam is on track to export 7.2-7.3 million tons of rice in 2022, the second-highest export volume in the country's history.

The utilization of a diversified network of free trade agreements continues to support Vietnam’s trading performance despite the unfavorable global economic environment.

These FTAs have laid the foundation for local businesses to expand their markets and further integrate into the global value chains.

Local companies could further improve their utilization rate of the trade agreement to gain a larger share of the EU market.

There has been progressing in Vietnam’s rice export as it has matched the national strategy for the diversification of rice export markets.

Higher competitiveness and product quality are essential for Vietnam products to penetrate markets with high standards for imports.