EVFTA is expected to pave the way for Vietnam’s enterprises to exploit the EU market and its 500 million consumers and GDP of $18 trillion.

Deputy Minister of Industry and Trade Tran Quoc Khanh, speaking at a recent conference, expressed his concern about the indifference shown by many Vietnam’s enterprises to EVFTA (EU-Vietnam Free Trade Agreement).

The lack of input materials and cancellations of 50 percent of orders have put textile and garment companies in serious difficulty, according to the Ministry of Industry and Trade (MOIT).

The European Commission (EC) on July 15 announced quotas for several Vietnamese agricultural products and rice in line with the European Union – Vietnam Free Trade Agreement (EVFTA).

US businesses are seeking Vietnamese partners in various business fields, according to the US-ASEAN Business Council (USABC).

While the whole world was aggressively fighting Covid-19, Vietnam and the European Union ratified the EU-Vietnam Free Trade Agreement (EVTFA).

Vietnamese goods are likely to face intense competition once the EU-Vietnam Free Trade Agreement (EVFTA) takes effect in early August, economists have forecast.

Vietnam’s new immigration law includes a new type of visa for foreigners who come to Vietnam to conduct activities as part of international agreements Vietnam has signed.

Though Vietnam’s agricultural sector will receive attention from the forthcoming EU-Vietnam Free Trade Agreement, it needs to overcome some challenges to enjoy optimum preferential treatment.

Edward Teather, a senior ASEAN economist from the Union Bank of Swizerland (UBS), has hailed Vietnam as one of the “brightest” spots throughout Asia despite COVID-19 challenges, adding that the national economy now looks poised to rebound.

Rice quotas for Vietnam under the EVFTA are expected to push Vietnam’s rice exports up from the second half of this year, according to the Ministry of Industry and Trade (MoIT).

The country's great achievement of containing the spread of COVID-19, plus the EVFTA (EU-Vietnam Free Trade Agreement), will help Vietnam attract more FDI.

The import tariff on European car imports will be decreasing gradually by 7 percent per annum. It will take at least five years to see considerable price decreases.

Many segments of the real estate market are soon expected to benefit from the EU-Vietnam Free Trade Agreement, which takes effect in August.

Amid serious impacts of COVID-19, there are hopeful points for the aviation sector on the back of the EU-Vietnam Free Trade Agreement.

Vietnam is boosting its diplomatic activities in hope of attracting more investment and expanding its trade in the global market, with many of the country’s major partners about to open their doors to the world again.

Vietnamese logistics firms’ ability to access the EU market will not be easy because rivals in the EU are strong anf clients there require high-quality services.

Vietnam will deploy any measure to boost its investment, export and consumption sectors to achieve growth as high as possible, Prime Minister Nguyen Xuan Phuc said on Thursday, 

Never-before-seen activities in Vietnam’s aviation sphere are expected to come to EU businesses soon on the back of the landmark EU-Vietnam Free Trade Agreement.

The EVFTA will abolish 65 per cent of the duties on EU exports to its developing partner, with the remainder phased out over a 10-year period.