European Union Vietnam Free Trade Agreement (EVFTA)

The European Union Vietnam Free Trade Agreement (EVFTA) took effect on August 1, 2020, paving the way for increased trade between the EU and Vietnam.

With immediate effect, the trade deal eliminates 71 percent of duties on exports from Vietnam to the EU as well as 65 percent of duties on exports from the EU to Vietnam. The remaining will be gradually phased out over the next 7-10 years. This tariff elimination benefits key export industries in Vietnam, such as the production of smartphones and electronic devices, textiles, footwear and agricultural products like coffee.

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