Eu-Vietnam Trade Agreement Enters Into Force

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As part of the EUFVTA chapter on competition, Vietnam and the EU agree to maintain competition law and ensure that the relevant authorities apply these laws in a non-discriminatory and transparent manner. In order to remedy anti-competitive behaviour and promote procedural fairness, the agreement requires the parties not to enter into agreements that could restrict or distort the control or competition of a potential merger and acquisition. The free trade agreement provides for a bilateral cumulative. In addition, the free trade agreement offers a combination with South Korea with respect to fabrics used in the manufacture of clothing after certain administrative requirements have been met. Vietnam will also benefit from the combination with the ASEAN countries with which the EU has a free trade agreement for two fisheries products: squid and squid. A revision clause provides for the possibility of accepting an expanded accumulation for a greater number of goods and/or more countries with which both parties will have a free trade agreement in the future. In addition, guarantees of respect for workers` rights, environmental protection and the Paris climate agreement will be guaranteed by strong, legally binding and enforceable provisions on sustainable development. Importing into the EU: certificate of origin EUR. 1 or declaration of origin for lots whose value does not exceed EUR 6000.

The original declaration must be signed by the exporter. Following the entry into force of the EU-Vietnam trade agreement on 1 August, European companies are now easier to do in Vietnam. The TFUE calls on Vietnam and the EU (which have not yet done so) to ratify the eight core conventions of the International Labour Organization (ILO); (ii) respect, promotion and effective implementation of the ILO`s fundamental principles on fundamental rights in the workplace; and (iii) the implementation of the Paris Agreement and other international environmental agreements, including actions to promote the conservation and sustainable management of animals, wildlife, biodiversity, forestry and fisheries. To this end, independent civil society will be involved in monitoring the implementation of these commitments by both parties. Vietnam has already taken several steps to meet its obligations, including the ratification in June 2019 of ILO Convention 98 on collective bargaining, the adoption of a revised labour code in November 2019 and the adoption of a resolution allowing Vietnam to accede to ILO Convention 105 on the abolition of forced labour in June 2020. At this stage, free trade between the EU and Vietnam is a sign of improved international economic relations. This cooperation aims to protect the rights of the different actors in both environments by recognising reciprocal norms. It also provides more comfort and less danger for local workers in their daily lives, so they can do their jobs properly and fairly.

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