Vietnam prevails in exporting rice and seafood to Europe
Published Jul 1, 2020
Tridge summary
The free trade agreement between Vietnam and the European Union (EVFTA) has brought great benefits in food trade for both sides, especially for rice and seafood products of Vietnam as well as for Vietnam. Wine and meat products from Europe (EU).
Original content
According to Food Navigator, as soon as the EVFTA Agreement comes into effect, the EU will eliminate 85% tax on goods imported from Vietnam. After 7 years this number will increase to about 99%. Vietnam is the second country in the ASEAN region to sign a free trade agreement with the EU. The Agreement is expected to come into force in August. Photo: Getty Images “EVFTA is the most ambitious and comprehensive agreement that the EU has ever signed with a country with average per capita income. ”, EU Trade Commissioner Cecilia Malmstrom said in a latest report on EVFTA. “This is considered a right decision because Vietnam is gradually becoming the second largest EU trading partner in ASEAN, after Singapore and surpassing Malaysia, with the total value of goods between the two sides reaching 48. EUR billion (equivalent to USD 54.3 billion) ”. According to EU data, in 2019 the total turnover of agricultural and food products exported to Vietnam reached EUR 1.1 billion (USD 1.2 billion) ...
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