AreaVietnam

Commodity GroupOilseeds, oils and meals

CommoditySelected grains, oilseeds

Date01/06/2019

Policy CategoryTrade

Policy InstrumentComprehensive trade agreements

DescriptionViet Nam and the EU signed a Free Trade Agreement that would lift tariffs on 99 percent of goods traded, including wheat, rice, maize and soybean products. The deal will come into force once it is ratified by lawmakers on both sides.

NotesOn 30 June, the European Union and Viet Nam signed a Free Trade Agreement that will lift tariffs on 99 percent of goods traded, including wheat, rice, maize and soybean products. Upon entry into force, the EU will eliminate 71 percent of duties on imports from Viet Nam and Vietnam will eliminate 65 percent of duties in return, while the remainder will be phased out gradually over a period of 7 and 10 years for the EU and Viet Nam respectively. The deal will come into force once it is ratified by lawmakers on both sides.