EU-Vietnam trade agreement in force

Published 2020년 8월 10일

Tridge summary

Since August 1, the European Union (EU) and Vietnam have implemented a trade agreement that gradually reduces the tax on fruit and vegetable exports from the EU to Vietnam to 0% over three years. This deal aims to eliminate duties on 99% of bi-directional goods trade. Additionally, European companies will gain equal investment rights and the opportunity to contest for public contracts in Vietnam. While the market for most Vietnamese products in the EU is not yet fully open, certain sensitive items like sweet corn, garlic, and mushrooms enjoy a limited tariff quota, indicating a gradual liberalization of trade between the two parties.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Since 1 August, the export of fruit and vegetables from the EU to Vietnam is less taxed. This is the result of the trade agreement between the EU and Vietnam, which will eventually lead to the abolition of duties on 99% of all goods traded between the two parties. It will also be easier for European companies to do business in Vietnam: they will now be able to invest on an equal footing with their local competitors and compete for public contracts. Originally, the trade tariffs for fruit and vegetables were a maximum of 30%. These will be reduced to 0% within 3 years. On the other hand, the import of sensitive products from ...

Source: AGF