The European Chamber of Commerce in Vietnam (EuroCham) held a workshop to discuss the progress of the EU-Vietnam Free Trade Agreement (EVFTA) since it came into force
The EVFTA has had positive impacts on Vietnam's economy and covered a diverse range of sectors
During the COVID-19 pandemic, Vietnam's imports and exports both saw significant growth, with exports from Europe to Vietnam rising by 16.5%
Europe's foreign direct investment in Vietnam was $1.4 billion in 2021
The EVFTA has improved the customs clearance of imports, reducing the average processing time and cost
Vietnam has reformed its sanitary and phytosanitary and technical barriers to trade regulations
The EVFTA allows for certain types of EU citizens to enter Vietnam for business purposes and for trainee employees to stay for up to 1 year
Concerns have been raised about the visa process for EU citizens in Vietnam, with some facing difficulties and delays in obtaining visas
Vietnam's commitments to the services sector under the EVFTA have been slow to materialize
Challenges remain in terms of trade facilitation, including in the areas of intellectual property rights, customs, and technical barriers to trade
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