Vietnam-EU Free Trade Agreement ratification expedited

Some pending issues around the Vietnam-EU Free Trade Agreement are being settled to ensure that the deal will be ratified early next year.
Participants at an EVFTA workshop in Brussels, September 7th, 2017
Participants at an EVFTA workshop in Brussels, September 7th, 2017

The Vietnam-EU Free Trade Agreement (EVFTA) is being struck with bilateral relations between Vietnam and the EU developing well, especially in economics and trade.

Under the agreement, the two sides will remove more than 99% of tariff lines and offer customs quotas or tariff reductions for other products.

The strong commitment to opening their markets is considered one of the agreement’s breakthroughs, particularly enhancing Vietnam-EU trade relations in garments, textiles, footwear, agricultural products, machinery, equipment, automobiles, and some EU farm produce.

The agreement will also create new market access opportunities in services and investment. Vietnam has agreed to a liberalization of trade in financial services, telecommunications, and postal and courier services. Vietnam will also remove or cut production restrictions in food, beverage, and non-food sectors for EU businesses.

With commitments to secure a more open investment and business environment, the deal will increase investment flows from the EU and other partners to Vietnam.

This could make Vietnam a transit hub connecting EU trade and investment activities to Southeast Asia.

Alann Bouvot, CEO of SODEX Sport Vietnam, which has done business in Nha Trang City since 1991, said “I’m quite optimistic about Vietnam’s investment environment. I have witnessed improvements in the local investment climate in 26 years investing there. 

Since 2017 Sodex has invested in a new production facility covering an area of 15,000 m2.  Our investment in Vietnam has brought us advantages in the entire Southeast Asian region. With a strategy to globalize our products, our presence in Vietnam is a key factor.”

At a recent workshop on the agreement in Brussels, Jean-Jacques Bouflet, a member of the EuroCham Executive Committee, said that to quickly realize the benefits of the deal, both sides should speed up negotiations in this decisive period.

Nguyen Hoang Long, Director of the Foreign Affairs Department of the Vietnam Foreign Ministry, said EU enterprises expect the deal to be signed soon and become an effective tool to protect them.

“The EU, represented by EU’s chief negotiator Mauro Petriccione, said that the early adoption of the EVFTA will be one of its priorities. 

It will work closely with Vietnamese partners so that ratification in the European Parliament and negotiations with partners in the EU will soon be completed,” said Hoang Long.

VOV

Other News

SBV raises short-term capital lending cap to 40%

SBV raises short-term capital lending cap to 40%

The new circular will help credit institutions have more room to provide capital to businesses and investment projects to support high economic growth in the next few years, while increasing flexibility in the SBV’s monetary policy management.

Business confidence in Vietnam rebounds strongly: UOB

Business confidence in Vietnam rebounds strongly: UOB

The study found that 85% of Vietnamese enterprises reported positive business sentiment, a sharp increase from 48% in 2025, when business confidence was weighed down by uncertainties surrounding US tariff policies and related trade developments.

Bac Ninh seeks high-quality foreign investment for sustainable growth

Bac Ninh seeks high-quality foreign investment for sustainable growth

According to Vice Chairman of the provincial People’s Committee Pham Van Thinh, the province aims to maintain stable and sustainable growth, improve the competitiveness of both the economy and local businesses, and make better use of free trade agreements (FTAs) to expand and diversify export markets.

Green building trend flourishes in Ho Chi Minh City's real estate landscape

Green building trend flourishes in Ho Chi Minh City's real estate landscape

The International Finance Corporation (IFC) highlighted the city's dominance in green-certified building floor space in Vietnam, reflecting the rapid expansion of the green building market with 780 completed green buildings encompassing over 18.69 million sq.m by 2025, predominantly certified by EDGE and LEED.

UK supports Vietnam in wind power and green finance development

UK supports Vietnam in wind power and green finance development

The United Kingdom officially announced two new climate cooperation initiatives to support Vietnam in its energy transition and green growth journey. These programs focus on offshore wind power development and the creation of a sustainable green financial ecosystem.

Ample room remains for Vietnam–India logistics cooperation

Ample room remains for Vietnam–India logistics cooperation

The GTTCI expert noted that alongside logistics and integrated warehousing, e-commerce is expected to be a particularly high-growth sector in the coming years. He described it as a multi-billion-dollar market with significant untapped opportunities for cooperation between Vietnam and India.

Exports gain momentum from high-tech growth drivers

Exports gain momentum from high-tech growth drivers

According to the Ministry of Industry and Trade, Vietnam’s exports reached 215.66 billion USD in the first five months of 2026, up 19.5% year-on-year. Twenty-six export items generated more than 1 billion USD in revenue each, including seven with turnover exceeding 10 billion USD.

Vietnam–China crossings see spike in ASEAN fresh produce

Vietnam–China crossings see spike in ASEAN fresh produce

Since the start of the summer harvest season, China's two major border gates with Vietnam, Youyi Guan in Pingxiang and Beilun 2 Bridge in Dongxing, have entered their peak period for handling imports of fresh agricultural and seafood products from member states of the Association of Southeast Asian Nations (ASEAN).

Cargo handling operations at Berths 3 and 4 of the Hai Phong International Gateway Port. (Photo: VNA)

AI reshapes logistics, raising bar for workforce skills

According to the Vietnam Logistics Business Association (VLA), the logistics sector will require around 2.2 million workers by 2030, including 1.6 million employees for logistics service providers and nearly 600,000 personnel supporting logistics operations in manufacturing and trading enterprises.

Robust dispute resolution framework key to Vietnam's IFC ambitions

Robust dispute resolution framework key to Vietnam's IFC ambitions

The development strategy for VIFC-HCMC envisions a comprehensive financial ecosystem encompassing green finance, carbon credits, financial technology (fintech), blockchain technology, digital assets, digital banking and other innovative business models. These highly internationalised sectors involve complex cross-border transactions and sophisticated legal structures.