EU-Vietnam Free Trade Agreement Overview

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Questions and Answers

What is the maximum export tariff percentage that Vietnam will implement for manganese ore within the next 5 years?

10% (correct)

15%

20%

How long does Vietnam commit to eliminate export tariffs for products other than the specified 57 tariff lines?

5 years

10 years

15 years (correct)

20 years

Which agreement's principles does Vietnam commit to follow regarding technical barriers to trade?

World Trade Organization Charter

Technical Barriers to Trade Agreement (TBT Agreement) (correct)

General Agreement on Tariffs and Trade (GATT)

Free Trade Agreement (FTA)

Which label does Vietnam commit to accept for non-agricultural products from the EU?

Made in EU Signup and view all the answers

Which entity is responsible for the management of goods imported and exported to Vietnam from the EU?

Competent authority of each EU member country Signup and view all the answers

What type of measures does the Agreement include regarding trade facilitation between the two Parties?

Customs procedures and licensing commitments Signup and view all the answers

What is the timeframe for Vietnam to recognize all technical conformity certification for EU cars after the EVFTA enters into force?

5 years Signup and view all the answers

Which product type is excluded from Vietnam’s acceptance of the 'Made in EU' label?

Pharmaceuticals Signup and view all the answers

What percentage of tariff lines does the EU commit to eliminate for Vietnamese goods upon the immediate effect of the EVFTA?

85.6% Signup and view all the answers

Within how many years does the EU commit to eliminating 99.2% of tariff lines for Vietnamese exports?

7 years Signup and view all the answers

What is the percentage of tariff lines Vietnam commits to eliminate for EU goods immediately upon the EVFTA coming into effect?

48.5% Signup and view all the answers

What percentage of Vietnamese export turnover is covered by the EU's elimination of tariffs on 99.2% of tariff lines after 7 years?

99.7% Signup and view all the answers

For what percentage of EU goods does Vietnam commit to eliminate tariffs within 10 years?

98.3% Signup and view all the answers

What is the primary requirement for Vietnam regarding export tariffs under the EVFTA?

No export tariffs except for specified reservations Signup and view all the answers

What is the percentage of EU's export turnover to Vietnam that will be covered by the elimination of 91.8% of tariff lines within 7 years?

97.1% Signup and view all the answers

What does the EU commit to regarding rice products and some specific goods from Vietnam under the tariff rate quotas?

Import tariff within the quota of 0% Signup and view all the answers

Study Notes

EU-Vietnam Free Trade Agreement (EVFTA)

EVFTA has 17 Chapters, 2 Protocols and some understandings, covering a wide range of trade aspects.
Aim is to eliminate tariffs and reduce non-tariff barriers to increase trade between the EU and Vietnam.

Trade in Goods

EU Commitments:
- Removing tariffs on 85.6% of Vietnamese goods immediately upon EVFTA's entry into force, representing 70.3% of Vietnamese export turnover to the EU.
- Eliminating tariffs on 99.2% of Vietnamese goods within 7 years, representing 99.7% of Vietnamese export turnover to the EU.
- Providing tariff rate quotas (TRQs) with 0% import tariff for the remaining goods, such as rice, corn, garlic, mushrooms, sugar, and tapioca starch.
Vietnam Commitments:
- Eliminating tariffs on 48.5% of EU goods immediately, representing 64.5% of EU export turnover to Vietnam.
- Eliminating tariffs on 91.8% of EU goods within 7 years, representing 97.1% of EU export turnover to Vietnam.
- Eliminating tariffs on 98.3% of EU goods within 10 years, representing 99.8% of EU export turnover to Vietnam.
- Setting tariff quotas or providing a special elimination roadmap for the remaining 1.7% of EU goods.
Export Tariffs:
- Both parties commit to not imposing export tariffs or fees unless explicitly reserved.
- Vietnam reserves the right to maintain export tariffs on 57 tariff lines, including sand, shale, granite, ores, crude oil, coal, coke, gold.
- Some export tariffs will be reduced within 5 years, while others will remain at current levels.
- Vietnam commits to eliminating export tariffs for most goods within a maximum of 15 years.

Non-Tariff Barriers

Technical Barriers to Trade (TBT):
- Both parties agree to strengthen WTO's TBT Agreement with Vietnam committing to using international standards when issuing TBT regulations.
- EVFTA includes a separate Annex on non-tariff barriers to automotive sectors, with Vietnam agreeing to recognize technical conformity certification for EU cars based on UNECE Agreement principles within 5 years of EVFTA's implementation..
Sanitary and Phytosanitary Measures (SPS):
- EU member countries will remain responsible for managing SPS for goods imported and exported to Vietnam.
- The European Commission will oversee the general coordination and review of member countries’ systems to ensure uniform application of technical standards throughout the EU.
Other Non-Tariff Measures:
- The Agreement promotes reducing other non-tariff barriers, such as export/import licensing and customs procedures, to facilitate trade between the two parties.

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Description

This quiz covers the key aspects of the EU-Vietnam Free Trade Agreement (EVFTA), including commitments related to trade in goods and tariff eliminations. It highlights both the EU's and Vietnam's commitments to reduce tariffs and enhance trade relations. Test your understanding of the agreement's provisions and implications for trade.