EU and Vietnam Conclude Free Trade Agreement
On 2nd December, the European Union and Vietnam announced that they had concluded negotiations for a Free Trade Agreement.
Further, the two sides have committed to complete the process as quickly as possible so that the agreement will come into effect at the beginning of 2018.
The agreement will remove almost all the tariffs on goods traded between Vietnam and the countries in the EU.
In 2014, the EU was Vietnam’s second largest trading partner after China with more than EUR 22 billion worth of imports into the EU; further, the EU is one of the largest foreign investors in Vietnam
The deal is designed to foster further trade.