European Council passes final procedure for EVFTA
Latest
TIN LIÊN QUAN | |
Vietnam boasts opportunities to expand exports to Sweden | |
EVFTA – important solution to achieve growth targets: Minister |
The European Council on March 30 passed a decision to ratify the EU-Vietnam Free Trade Agreement (EVFTA). |
Once ratified by the Vietnamese National Assembly, the deal will officially take effect expected at the beginning of this summer.
The EVFTA is expected to create a major push for Vietnam’s exports, helping diversify the country’s exports and markets.
Under the agreement, Vietnam will cut 65 percent of import tax on EU commodities right after the deal takes effect, while the rest will be erased in a 10-year period. Meanwhile, the EU will cut more than 70 percent of tariff on Vietnam’s commodities right after the deal takes effect, while the rest will be abolished in the seven subsequent years.
The document, together with the EU-Vietnam Investment Protection Agreement, was signed in Ha Noi on June 30 last year. They include intensive, extensive and comprehensive commitments covering the fields of economy, trade, investment and sustainable development issues.
Trade minister Tran Tuan Anh asks for optimising EVFTA commitments Minister of Industry and Trade Tran Tuan Anh on February 26 asked relevant departments and agencies to optimise commitments in the European Union – Vietnam ... |
Banking sector to cash in on benefits from EVFTA The Vietnamese banking sector, now undergoing drastic restructuring, will have more opportunities to improve its financial capacity as well as learn modern business models and ... |
Vietnam’s wood exports to EU likely to reach 1 billion USD thanks to EVFTA Vietnam’s wood exports to the European Union (EU) is likely to reach 1 billion USD after the recently ratified EU-Vietnam Free Trade Agreement (EVFTA) takes ... |