EU-Viet Nam Free Trade Agreement
Latest News about EU-Viet Nam Free Trade Agreement
With an increasingly open business environment, and continuing international integration, Vietnam has long been regarded as a promising destination for foreign investment.
Textile stocks have been on an temporary upswing thanks to the recent ratification of the EVFTA but textile enterprises still face difficulties due to heavy dependence on imported raw materials and reduced demand worldwide.
The EU-Viet Nam Free Trade Agreement would provide a big impetus to Vietnam's exports to the EU and be key to Vietnamese companies penetrating one of the largest and most lucrative markets in the world.
Textile, garment and footwear products made in Vietnam will not enjoy immediate tariff cuts after the EU-Viet Nam Free Trade Agreement (EVFTA) comes into effect.
Local firms are set to face fierce competition from EU imports thanks to two upcoming agreements between the two sides.