Eu Vietnam Free Trade Agreement In Force

The ALER is an important milestone in EU-Vietnam relations and further strengthens bilateral economic integration and rules-based trade liberalisation. Vietnam has already taken concrete steps to implement the agreement. Thus, in May 2020, the Vietnamese Ministry of Industry and Trade set up five working groups to assist the relevant government authorities on different aspects of the agreement, including the implementation of rules of origin, certifications and legal documentation. carry out market research on consumer requirements and tastes in the EU; understanding of EU policies and administrative measures that may affect Vietnamese exports; set up information campaigns on the benefits of the agreement; and the fight against fraud at the origin. Please contact Kneppelhout`s international sales team if you have any questions about how your company can reap the benefits of the EU-Vietnam Free Trade Agreement. The free trade agreement provides for bilateral cumulation. In addition, the Free Trade Agreement provides for cumulation with South Korea with regard to substances used in the manufacture of clothing after certain administrative requirements have been met. Vietnam will also benefit from cumulation with ASEAN countries with which the EU has a free trade agreement for two fishery products: octopus and octopus. A review clause provides for the possibility of accepting the extension of cumulation for a greater number of goods and/or more countries with which both parties will have a free trade agreement in the future.

At this stage, free trade between the EU and Vietnam is a sign of an improvement in international economic relations. This cooperation aims to protect the rights of different actors in both environments by recognising mutual standards. It also provides more comfort and less danger for local workers in their daily lives, allowing them to do their jobs properly and fairly. The Free Trade Agreement establishes a framework to settle future disputes between the EU and Vietnam over the interpretation and implementation of the agreement. It applies to most areas of the agreement and, in many ways, it is faster and more efficient than the dispute settlement mechanism in the WTO. The PCA provides that human rights, democracy and the rule of law are «essential elements» in the overall relationship between the EU and Vietnam. Therefore, the link between the Free Trade Agreement and the PCA is important to ensure that human rights are also part of the trade relationship between the parties. The EU and Vietnam have agreed to strengthen the disciplines of the WTO Agreement on Technical Barriers to Trade (TBT). In particular, Vietnam is committed to making greater use of international standards in the development of its rules. The agreement also contains a chapter on sanitary and phytosanitary (SPS) measures specifically aimed at facilitating trade in plant and animal products, with the parties agreeing on some important principles such as regionalisation and recognition of the EU as uniform.

These provisions will facilitate access for EU companies that manufacture a large number of products, including electrical appliances, information technology and beverages, access to the Vietnamese market. . . .

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