EU and Vietnam ready to “wave” the new agreement

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EVFTA: a great result at the time of COVID-19

EVFTA, the free trade agreement between the EU and Vietnam, will officially enter into force on 1 August 2020. It’s the European Union’s second deal with a member of the Association of Southeast Asian nations (ASEAN) after Singapore, and one of few with a developing country.
65 percent of duties on EU exports to Vietnam will be eliminated when the agreement takes effect, while the remaining will gradually be phased out over a 15-year period. On the other hand, 71 percent of duties on Vietnam exports to EU countries will be eliminated immediately, with the remaining being eliminated in seven years.
The tariff concessions will mainly concern the sector of mechanics, motor vehicles, pharmaceutical products, textiles, as well as the agri-food chain.

As per notice 2020/C 196/06, movement certificate EUR.1 and origin declarations will not be issued or made out in the EU to benefit from the preferential tariff treatment in Vietnam.
Article 15(1)(c) of the EVFTA Origin Protocol establishes that products originating in the EU shall, on importation into Vietnam, benefit from the tariff preference of the EVFTA upon submission of a statement of origin made out by exporters registered in an electronic database (REX system) in accordance with the relevant legislation of the EU after the EU has notified to Vietnam that such legislation applies to its exporters.

An exporter already holding a REX number for the purpose of his exports to GSP beneficiary countries (bilateral cumulation), to Japan or to Canada, for instance, may use the same number for the purpose of
his exports to Vietnam.


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