EU and Vietnam Expand Trade Relations (04/05)

The textile quotas have now been lifted. With the new agreement between Vietnam and the EU, trade relations will expand even further in a number of sectors.
 
From now on Vietnam can freely export textiles to the European Union. The present quotas have been implemented with immediate effect. In return EU companies will get new opportunities in a number of sectors such as distribution, environmental services and shipping.

This is the consequence of the new trade agreement between Vietnam and the European Union, which was signed in Brussels 31 March 2005.  The new agreement is also known as the 'Early Harvest' agreement in anticipation of Vietnam's accession to the WTO in the near future.

In October 2004 Vietnam and the EU agreed on the terms of EU support for Vietnam's accession, and Vietnam is currently negotiating with a number of other important WTO member states, such as the USA, Japan and Korea.

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