To assist our Valued Customers and Members in conveniently monitoring and utilizing, in addition to the Vietnamese version, Thu Ky Luat is honored to introduce to our Valued Customers and Members the full English text of the Vietnam - EU Free Trade Agreement (EVFTA) in a Word file, which was recently ratified by the National Assembly on June 08, 2020.
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>>> See more: Vietnamese version of the Vietnam – EU Free Trade Agreement (EVFTA)
Word File of the English Version of the Vietnam – EU Free Trade Agreement (EVFTA) - Illustrative image
Word File of the English Version of the Vietnam – EU Free Trade Agreement (EVFTA)
The Vietnam – EU Free Trade Agreement (EVFTA) is a comprehensive, high-quality agreement that balances the interests of both Vietnam and the EU, while also being in conformity with the World Trade Organization (WTO) regulations.
Once the Agreement comes into effect, the EU will eliminate import duties on approximately 85.6% of tariff lines (70.3% of Vietnam’s export value to the EU). After 7 years, 99.2% of tariff lines (99.7% of the export value) will have their tariffs removed. For the remaining 0.3% of export value, the EU commits to providing Vietnam with import tax quotas at a 0% tariff rate.
It can be said that nearly 100% of Vietnam’s export value to the EU will have import duties eliminated after a short transition period (7 years).
According to the regulations, the Agreement will take effect on the first day of the second month after the month in which both parties have notified each other of the completion of their respective internal legal procedures to bring this Agreement into effect, expected on August 1, 2020.
See more: Vietnamese version of the Vietnam – EU Free Trade Agreement (EVFTA)
