The EU-Vietnam agreement is the most comprehensive trade agreement the EU has concluded with a developing country. The agreement means that 65 percent of duties on EU exports to Vietnam will be abolished upon entry into force. The rest will follow in the next ten years. EU duties on imports from Vietnam will be phased out over a seven-year period. According to the regulations, European wines and spirits are completely tariff-free after importing into Vietnam after seven years. Frozen pork is tax-free after seven years, beef and lamb after three years, dairy products after up to five years, and food preparations after up to seven years. Not fully open The European market will not fully open its market to all Vietnamese imports. For example, there are tariff quotas for rice, sweetcorn, garlic, mushrooms, eggs, sugar and sugary products, cassava starch and other modified starch, ethanol, surimi and canned tuna. Some 169 traditional European food products such as Roquefort cheese, ...
Was this news article helpful?
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes.