Vietnam - EU free trade agreement signed

December 03, 2015


Vietnam and the European Union concluded a new free trade agreement, eliminating over 99% of tariffs and partially reducing customs tariffs on most remaining products for both parties. The agreement is expected to boost investment from the EU into Vietnam.

The negotiation process began in June 2012 and went through 14 official rounds over nearly 3 years.

The EU is currently Vietnam's second largest trading partner with US$36.8 billion total trade volume in 2014.