What is the impact of EU-Vietnam Free Trade Agreement?

After three years of negotiation, the EU and Vietnam reached an agreement on footwear, furniture and textiles manufacturers. Both parties are expecting to benefit largely from this agreement and export turnover to the EU is expected to increase by 110 percent by 2020. This FTA will eliminate most of the tariffs between the two parties and will be set to benefit Vietnam’s key export industries, which are footwear, furniture, and textiles and garments.