The Eurasian Economic Union, composed of Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, has concluded free trade agreements, see below. List of agreements between two states, two blocs or one bloc and one state. Note: Any customs union, every common market, any economic union, the Customs and Monetary Union and the Economic and Monetary Union are also a free trade area. Hanoi has high hopes for the free trade agreement. The Ministry of Planning and Investment estimates that Vietnam`s export earnings to the EU will increase by 42.7% by 2025 and by 44.37% by 2030 compared to the non-agreement scenario. “EvFTA is now more important than ever, as trade wars and a global pandemic disrupt normal business on an unprecedented scale,” the European Chamber of Commerce in Vietnam said on Monday. “This agreement is not only a win-win situation for European and Vietnamese companies; but also for citizens on both sides. The next step is to ensure a smooth and effective implementation,” added EuroCham. Taiwan`s Foreign Ministry also said Sunday that it would continue its initiative to join the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) agreement, an agreement that grew from the Trans-Pacific Partnership (TPP) abandoned after the United States withdrew from the agreement. But Taiwan is active this week in Washington and is participating in several dialogues that could lay the groundwork for a long-discussed free trade agreement with the United States. Full multilateral agreements (not listed below) see: List of multilateral free trade agreements. The Comprehensive Regional Economic Partnership (RCEP) covers all 10 ASEAN members, as well as Australia, New Zealand, Japan, South Korea and China. The presence of taiwan`s foreign ministry at the RCEP, Taiwan`s foreign ministry said on Sunday, without Taipeh being able to accede to the free trade pact.
After Brexit, Britain will be part of the EU`s trade pact with Vietnam by the end of 2020. The UK`s ambassador to Vietnam, Gareth Ward, told British companies here at an online conference that the two countries were working on a bilateral trade deal and expected an agreement by the end of the year. The trade agreement gives the EU, whose exports to Vietnam also include aircraft and automobiles, better access to an attractive consumer market. The trade agreement is also good news for multinationals outside the EU. Among Japanese companies, clothing companies such as uniqlo Fast Retailing are visiting Vietnam, while manufacturers of auto parts and machinery want to increase sales from Vietnam to Europe. In August, Tsai said Taiwan would ease restrictions on U.S. imports of pork and beef, which were seen as the main obstacle to a trade agreement between the two countries.
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