Free trade pact helps Vietnam-EU trade rise 18%

 

 Trade between Vietnam and the EU hit more than 27 billion USD in the first half, up more than 18% against the same period last year. 

The growth was attributed to the EU-Vietnam Free Trade Agreement (EVFTA) which came into force in August 2020, according to an online review of the trade pact on Monday. Vietnamese Minister of Industry and Trade Nguyen Hong Dien said the EU is Vietnam’s 2nd biggest importer and 4th biggest trade partner. 

“In the first 5 months of this year, Vietnam’s exports to the EU grew 20% and imports from the EU grew 18%. We hope the EVFTA will continue to serve as a steppingstone for bilateral trade,” said Mr. Dien.

Minister Dien and the European Commission’s Executive Vice President European Commissioner for Trade Valdis Dombrovskis agreed to address problems facing businesses to maintain and develop the supply chain amid COVID-19.

 

Source: VOV5

 

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