The European Union and Vietnam on Tuesday (4 August) reached a free trade agreement after two and a half years of negotiations, the European Commission said.
The deal will remove tariffs on goods traded between the two economies, the Commission said in a statement. The deal covers goods and services, investment and issues such as government procurement. The EU is one of the largest foreign investors in Vietnam. In 2013, EU investors committed a total of more than €500 million in foreign direct investment and remains Vietnam's sixth largest foreign investment partner.
