? The Parliament of the European Union ? adopted the Vietnam-EU Free Trade Agreement (EVFTA) on February 12, 2020, making Vietnam the first developing country in the Asia-Pacific region to establish free trade relations with the European Union. Vietnam became the first developing country in the Asia-Pacific region to establish free trade relations with the EU. Vietnamese economists have compared this FTA to a highway connecting Vietnam to the EU. a highway connecting Vietnam to the European Union. This proves Vietnam's important geographical and political position and role in the region. The EU is currently Vietnam's second largest country after the European Union (EU). Currently, the EU is Vietnam's second largest export market after the U.S. and an important source of Vietnam's trade surplus.In 2019, Vietnam exported 41.48 billion dollars to the EU and imported 14.91 billion dollars from the EU. Vietnam mainly exports garments, footwear, agricultural products, etc. to the EU, while the EU exports electromechanical equipment and medical products, etc. to Vietnam. After the FTA comes into effect, tariffs on agricultural products, for example, which Vietnam dominates, will be reduced from the current 5?20 percent to zero for exports to the EU. For the textile and garment industry, which is moving to Vietnam, 42.5 percent of tariffs will be eliminated by the EU, and the remaining tariffs will be eliminated in 3?7 years. Despite Vietnam's high hopes for this FTA, some Vietnamese experts and media have pointed out that this highway to the EU is not free, and needs to be adjusted to the relevant domestic laws and management systems. Taking trade unions as an example, the EU has asked Vietnam to allow workers to set up independent trade unions, which is at odds with Vietnam's current trade union system. Although the Vietnamese side has accepted the EU's request, the effectiveness of the operation of independent unions and potential risks remain to be seen. ?
In addition, not all goods made in Vietnam can enjoy zero tariffs, according to the EU's principle of origin, the raw materials of exported products must originate from Vietnam, the EU or other countries that have signed free trade agreements with the EU. There are Vietnamese garment enterprises responsible for the media, said the current production of fabrics mainly imported from China and other places, and to enjoy zero tariffs in the EU, the enterprise can not use imported fabrics, to order in the country, but Vietnam's existing weaving, printing and dyeing enterprises are only a handful.