Vietnam prevails in exporting rice and seafood to Europe

Published 2020년 6월 30일

Tridge summary

The European Union-Vietnam Free Trade Agreement (EVFTA), set to be in effect in August, is set to bring significant benefits to the food trade between the EU and Vietnam. The agreement will see the EU eliminating 85% of taxes on goods imported from Vietnam, with the figure set to rise to 99% in seven years. Vietnam will also eliminate import taxes on EU wine, meat, and seafood products, among other agricultural products. The deal is expected to bolster Vietnam's position as the second largest EU trading partner in ASEAN, surpassing Malaysia. The agreement also includes provisions on intellectual property rights, investment liberalization, and sustainable development.

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Original content

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). 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 ...

Source: Vietnambiz