Quality standards, rules of origin, and legal aspects are said to be among the barriers Vietnamese businesses will have to overcome to gain a foothold in the European market under the EU-Vietnam Free Trade Agreement (EVFTA).

The EU-Vietnam Free Trade Agreement has been adopted by the European Parliament and is now awaiting approval from the European Council and Vietnam’s National Assembly. 

The recent signing of the EU-Vietnam Free Trade Agreement (EVFTA) has opened the door wider for Vietnamese farm produce to make inroads into the more than 500-million people strong market.

Vietnam has become an increasingly attractive destination for international enterprises in the food, beverages and packaging industry thanks to its rapid economic growth and rising consumer demand.

Ho Chi Minh City is keen to cooperate with European businesses in building a smart city, Vice Chairman of the municipal People’s Committee Tran Vinh Tuyen has said.

The freshly-signed EU-Vietnam Free Trade Agreement (EVFTA) will help the Vietnamese steel sector expand export markets in Europe, industry insiders said.

The EU-Vietnam Free Trade Agreement (EVFTA) is expected to put pressure on Vietnamese enterprises to increase their competitiveness in order to make inroads into the European market.

The signing of the EU-Vietnam Free Trade Agreement (EVFTA) in Hanoi on June 30 after six years of negotiation is expected to serve as a lever for the growth of Vietnam’s economy and business community.

Fifty-five percent of German businesses, when asked, have said they want to increase investment capital in Vietnam, higher than the rate for Southeast Asia (44 percent).