The EU and Vietnam Free Trade Agreement (EVFTA) is a comprehensive trade agreement that was signed in 2019 and came into effect on August 1st, 2020. The agreement is meant to promote trade and investment between the European Union and Vietnam while also strengthening their political and economic relations.

The EVFTA is a detailed document that covers a wide range of topics, including tariffs, non-tariff barriers, intellectual property rights, and labor standards. The text of the agreement is available online, and it is important for businesses and individuals to understand its provisions in order to take advantage of its benefits.

One of the main benefits of the EVFTA is the elimination of tariffs on goods traded between the EU and Vietnam. This means that businesses in both regions will be able to sell their products at a lower cost, making them more competitive in their respective markets. The agreement also includes provisions that aim to reduce non-tariff barriers, such as regulations and customs procedures, which can often be a major obstacle to trade.

The EVFTA also includes provisions related to intellectual property rights. This means that companies in both regions will be able to protect their trademarks, copyrights, and patents, ensuring that their products are not copied or counterfeited. Furthermore, the agreement includes provisions related to labor standards, which aim to ensure that workers in Vietnam are treated fairly and are not exploited.

Overall, the EVFTA is a comprehensive agreement that provides numerous benefits to businesses and individuals in both the EU and Vietnam. By eliminating tariffs and reducing non-tariff barriers, the agreement promotes trade and investment, while the intellectual property and labor standards provisions ensure that businesses are able to operate fairly and ethically. As such, it is important for businesses to read the text of the agreement and understand its provisions in order to take full advantage of its benefits.