EU Expects Trade Deal With Vietnam to Take Effect This Year

The European Union-Vietnam trade agreement will take effect this year, according to a Feb. 12 press release from the European Commission. The agreement was approved by the European Parliament Feb. 12 and now awaits ratification by Vietnam, the commission said. The deal, which the commission called the “most comprehensive” trade agreement between the EU and a developing country, will eliminate “virtually all” tariffs on goods between the two countries. The commission expects the deal to take effect in “early summer.” The two sides expected to ratify the deal last year (see 1905030012).