|Shrimp processing for exports to EU (Photo: SGGP)|
The Vietnam-European Union Free Trade Agreement (EVFTA) will reduce tariffs and increase export of Vietnamese commodities to EU by 30-40 percent, according to European Trade Policy and Investment Support Project in Hanoi on March 7.
The agreement will protect investors from both Vietnam and EU, said Jean-Jacques Buoflet, head of the Trade & Economics Section of the EU Delegation to Vietnam. It is expected to increase foreign direct investment from EU and other countries in Vietnam after implementation September 2014.
Vietnam and EU have passed six EVFTA negotiation rounds since June 2012.