The EU-Vietnam Free Trade Agreement entered into force on August 1.
Vietnam has been the second largest ASEAN trading partner for the EU (after Singapore) for several years. ASEAN (Association of South East Asian Nations), with its more than 600 million inhabitants and several countries with rapidly growing economies, is an interesting region for the EU to do business with. And Vietnam, with a population of around 100 million and a GDP growth rate of 6 to 7% (pre-covid-19), is ASEAN’s largest exporter to the EU.
We had a discussion with Bart Verheyen, President of the Belgian Luxembourg Chamber of Commerce in Vietnam, and Andries Gryffroy, President of the Belgian Vietnamese Alliance in Belgium, about the benefits of this agreement for Belgian companies.