The European Union (EU) – Vietnam Free Trade Agreement (EVFTA) - the most comprehensive trade agreement the EU has signed with a developing country, will take effect from August 1, a press release of the European Commission (EC) stressed.
EC President Ursula von der Leyen (Photo: Xinhua/VNA)
Brussels (VNA) – The European Union (EU) – Vietnam Free Trade Agreement (EVFTA) - themost comprehensive trade agreement the EU has signed with a developing country,will take effect from August 1, a press release of the EuropeanCommission (EC) stressed.
In the document issued on July 31, EC President Ursula von der Leyensaid the European economy now needs every opportunity to recover itsstrength after the crisis caused by the COVID-19 pandemic.
Trade agreements such as the EVFTA will provide Europeancompanies opportunities to access emerging markets, and create jobs forEuropeans, she added.
She expressed her strong belief that the trade pact will also create a chance for Vietnamese to enjoy a more prosperous economy and gain more benefits.
EU Trade Commissioner Phil Hogan stated that Vietnam is currently in the groupof 77 countries having trade relations with the EU under bilateral preferentialterms.
EVFTA helps further promote economic linkage between the EU and dynamic regionsin Southeast Asia and contributes to economic recovery after the COVID-19crisis, he said.
The agreement also shows that trade policies can bring about many socialbenefits, he said, adding that Vietnam has made great efforts to improve its labourers'rights through trade negotiations.
EVFTA is expected to eliminate 99 percent of tariffs on goods traded between the EU and Vietnam, and make it easier for European companies toinvest in the Southeast Asian nation./.
Vietnamese goods are likely to face intense competition once the EU-Vietnam Free Trade Agreement (EVFTA) takes effect in early August, economists have forecast.
The Vietnam Trade Promotion Agency (Vietrade) is able to coordinate with and create the necessary conditions for Vietnamese and Dutch companies to enhance business links, Vietrade Deputy Director Le Hoang Tai has said.
The agriculture sector needs to address challenges related to branding, geographical indications, traceability, and intellectual property to take full advantage of the free trade agreement Vietnam has signed with the EU, speakers said at a meeting on July 24.
Reforming administrative procedures and improving infrastructure quality are decisive factors in capitalising on the EU-Vietnam Free Trade Agreement (EVFTA), heard a dialogue between officials of Ho Chi Minh City and the European Chamber of Commerce in Vietnam (EuroCham) on July 28.
Vietnam achieved a trade surplus of 6.5 billion USD in the first seven months of this year, including 1 billion USD in July, according to the General Statistics Office (GSO).
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
EC President Ursula von der Leyen (Photo: Xinhua/VNA) 
