Vietnam, EU Plan to Ratify Trade Agreement by End of 2019, Report Says

The European Union and Vietnam plan to ratify the EU-Vietnam Free Trade Agreement by the end of 2019, according to a report from Vietnam's CustomsNews website, citing HSBC. The EU has scheduled trade discussions for May 28, the notice said. The agreement will increase trade and eliminate “virtually all tariffs on goods,” according to an announcement when several of the pact's agreements were adopted by European Commission in 2018. Vietnam will remove 65 percent of import duties on EU exports “with the remainder of duties being gradually eliminated over a 10-year period,” the EU said.