2/12/2020 | Laws and tax issues
UE - Vietnam agreement: no more customs duties, IG Grappa protected
UE - Vietnam agreement: no more customs duties, IG Grappa protected
After five years of negotiations, on the 12th of February 2020, the European Parliament approved the free trade agreement between the EU and Vietnam with 401 votes in favour, 192 against and 40 abstentions.
The agreement will basically eliminate all customs duties between the two parties in the next ten years, including the main European export products to Vietnam: machineries, cars and chemical products. The agreement also provides with the protection of Geographical Indications, including IG Grappa.
The Council will now be able to conclude the negotiations and ratify them; once the Vietnamese National Assembly has ratified the agreement, it can enter into force in all respects, probably within summer 2020.
You may consult the final drafts of the texts by following the below link:
https://trade.ec.europa.eu/doclib/press/index.cfm?id=1437
The agreement will basically eliminate all customs duties between the two parties in the next ten years, including the main European export products to Vietnam: machineries, cars and chemical products. The agreement also provides with the protection of Geographical Indications, including IG Grappa.
The Council will now be able to conclude the negotiations and ratify them; once the Vietnamese National Assembly has ratified the agreement, it can enter into force in all respects, probably within summer 2020.
You may consult the final drafts of the texts by following the below link:
https://trade.ec.europa.eu/doclib/press/index.cfm?id=1437
