New development in EU-Vietnam Free Trade Agreement

This means that the agreement can now be translated into the 22 languages of the EU and proposed for signature and ratification. As a new generation FTA, the EVFTA has long been expected to enhance bilateral trade in terms of volume and value. In this week's VNCU, we will take time to look into the latest developments of EVFTA and its influences on both sides.

The EU is our third largest trade partner, with bilateral trade turnover reaching 50.4 billion USD in 2017. To take full advantage of the agreement, experts have said that Vietnamese enterprises should increase their localization rates quickly and improve product quality, especially in terms of food hygiene and safety.