Improving IP Protections To Attract Fresh EU Investment

Invited by Vietnam Investment Review, our team in Vietnam authors an article about EVFTA and Vietnam's IP legal system.

The EU-Vietnam Free Trade Agreement (EVFTA) officially entered into force in August. From day one, the EVFTA has started to phase out almost 99 per cent of tariff lines and barriers to trade between Vietnam and the EU. This should result in ?15 billion ($17.5 billion) a year in additional exports from Vietnam to the EU by 2035, while EU exports to Vietnam would expand by ?8.3 billion ($9.68 billion) annually.

For Vietnam, the tariff elimination will benefit key export industries, including the manufacturing of smartphones and electronic products, textiles, footwear, and agricultural products, such as coffee. On the other hand, European companies will also have better access to Vietnam's emerging and potential market with a population of nearly 100 million.