The APC regulates the overall relationship between the EU and Vietnam. It is based on common interests and principles such as equality, mutual respect, the rule of law and human rights. It broadens the scope of cooperation in areas such as trade, the environment, energy, science and technology, good governance, tourism, culture, migration, the fight against terrorism and the fight against corruption and organised crime. It also allows Vietnam and the EU to further strengthen cooperation on global and regional challenges, including climate change, terrorism and the non-proliferation of weapons of mass destruction. The EU will also abolish tariffs with longer stage periods (up to 7 years) for certain sensitive products, particularly in the textile and footwear industries. To qualify for preferential access, strict rules of origin for clothing require the use of substances manufactured in Vietnam, with the exception of substances manufactured in South Korea, another EU partner in the EU free trade agreement. Disclaimer: The text of the EU-Vietnam trade agreement, presented on this website, is the text at the end of the negotiations conducted by the European Commission and is published exclusively for informational purposes. The agreement presented in this document is not binding under international law and will not be binding until the ratification process has been completed by each party, in accordance with its internal legal procedures. Vietnam has free trade agreements with many countries in the region, such as Japan, South Korea, etc. Another important free trade agreement in which Vietnam participates is the Trans-Pacific Partnership.
It covers countries bordering the Pacific Ocean, such as Japan, Chile, Canada and Australia. With the United States withdrawing from the negotiations, the remaining 11 countries continued negotiations and agreed on the new comprehensive and progressive agreement for the Trans-Pacific Partnership (PPAC). The importance of the CPTPP for Vietnam is much less important than the TPP would have been, given that Vietnam had already concluded free trade agreements with the remaining 11 countries, either bilaterally or through the ASEAN Pact. In 2015, the EU and Vietnam agreed on the principle of a comprehensive and ambitious trade and investment agreement. This free trade agreement (FTA) is the second largest in the ASEAN region after Singapore and is another part of the EU`s ultimate goal of a free trade agreement between the EU and ASEAN. Following the signing, the agreements will be submitted to the Vietnamese National Assembly for ratification and, on the EU side, to the European Parliament for approval, as well as to the respective national parliaments of EU member states in the case of the investment protection agreement.