EU-Vietnam Free Trade Agreement (2019-2020)
The European Union and Vietnam signed their free trade agreement on June 30, 2019, after a decade of talks. It took effect on August 1, 2020, eliminating more than 99% of customs duties between the two sides over a 10-year schedule.
Vietnam became the second Southeast Asian state after Singapore to hold an FTA with the EU, opening its largest single trading partner.
The deal became the template for Vietnam's European trade strategy and showed its willingness to accept labor and environmental standards.
The EFTA pact extends the same tariff-free access to the four EU-outsider European states, completing Vietnam's European trade network. Its ratification path mirrors the EU deal's roughly 13-month gap between signing and entry into force.
