Vietnam Trade Agreement

Vietnam has also been a powerful driver of ASEAN`s international trade, particularly with its major trading partners. Vietnam`s share of ASEAN`s total merchandise trade with the United Kingdom increased from 8.1% to 14.4% between 2010 and 2014, and then to 18.6% in 2019. The TFUE is expected to remain in force until the end of the year, while the UK (UK) is still in a customs union with the EU. The situation from 1 January 2021 will depend on the decision of the United Kingdom and Vietnam to agree on their own bilateral agreement, although this is unlikely in the short term, given that Vietnam is not one of the UK`s priority free trade countries (including the EU, the United States, Japan, Australia and New Zealand). The question of a possible diagonal or extended accumulation of origin between the UK, the EU and Vietnam (i.e. when parts of countries not participating in a free trade agreement. B, for example the United Kingdom from 2021, can be considered “original products” and thus help to satisfy the preferential rule of origin of a product) depends on the willingness of the three parties to approve it. At present, the EU does not foresee any possibility of such an extended accumulation in its free trade agreements with the United Kingdom for a free trade agreement. To qualify for preferential tariffs under the EUSF, operators must comply with general rules of origin or rules of origin specific to the products of the agreement and complete a certificate of origin (eur.1) issued by the government or a declaration of origin from a certified exporter (i.e.

self-certification of origin). The TFUE allows for the bilateral accumulation of origin, in which products manufactured in one part can benefit from preferential treatment and containing materials of the other party. It also allows for a limited accumulation of South Korean substances used in textile manufacturing and the possibility of accumulating fishing equipment from other ASEAN Member States. The TFUE provides for Vietnam`s commitment to the World Intellectual Property Organization (WIPO) as a means of preventing unauthorized access to creative works and protecting materials exchanged through digital networks, including the internet. In particular, Vietnam has committed to joining the WIPO Copyright Treaty (1996) and the Performance and Phonogram Contract (1996) within three years of the effective date of THE TUEFTA. According to reports, the Vietnamese government is in the process of completing its internal procedures and the necessary documents to accede to the two treaties. The TFUE also includes strict provisions for trademark protection, patents, designs, plant varieties and data protection (five years) for pharmaceutical, biological and agrochemical products. The United Kingdom is a major player in world trade.

In 2019, the United Kingdom exported US$469.7 billion and imported US$695.8 billion, while the UNITED Kingdom exported US$411.8 billion in numbers and US$279.2 billion for commercial services. Although international merchandise trade in the United Kingdom has declined in recent years, its trade with ASEAN and Vietnam has grown strongly.

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