EU lawmakers voted to open its market wider to the ASEAN country in a deal that will eliminate 99% of tariffs on Vietnamese goods, with a transition period of up to 10 years on some imports.
This ‘carrot’ rewards Hanoi for its commitment and progress to improving its labour standards.
It is the most comprehensive pact of its kind struck by the EU with a developing country, and only its second – after Singapore – with a member of the Association of Southeast Asian nations (ASEAN).
Will Vietnamese exports to the EU see a boom?
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