VIETNAM – AN ARBITRATION-FRIENDLY SEAT
Dispute Resolution / Legal insights
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October 19, 2015
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The 25-year bilateral ties between Vietnam and the EU have gone from strength to strength, prosper numerous development in the fields of politics, economy, trade, investment, education and technology,
etc., and the EU is undoubtedly one of the most important trading partners of Vietnam. Prior to the commemorative year of 2015, EU and Vietnam may celebrate a number of impressive figures: over EUR 28.2 billion trade in goods in 2014 (which makes EU second only to China as Vietnam’s biggest extra ASEAN trading partner), with the import-export turnovers with the EU representing 10% of total trade value of Vietnam. Meanwhile, the EU also stood among the biggest FDI partners of Vietnam with the total committed FDI of more than EUR 17 billion until March 2015. Yet, such achievements may be only the beginning of a strategic partnership with unlimited potential as on 04 August 2015, Vietnam and the EU have finished the negotiation process of the bilateral Free Trade Agreement (FTA) and reached a mutual agreement in principle for a free trade deal, pending only a few remaining technical issues.
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