What does Vietnam’s trade deal with the EU mean for the country and ASEAN?
Vietnam’s economy is expected to gain enormously from the FTA with the EU. However, the country will face major criticism unless it adopts labor and human rights reforms.
EU-Vietnam FTA
EU-Vietnam trade deal shows EU will bend human rights standards if the price is right
The new EU-Vietnam free trade agreement (FTA) shows the EU will look past human rights violations to push a trade agenda. But as FTAs with ASEAN states don’t offer the EU the same economic benefits, it’s unlikely the bloc will pen more in the near future.
EU-Vietnam trade deal prompts concern in Thailand
The new EU-Vietnam free trade deal may prompt manufacturers to move operations from Thailand to Vietnam. Thailand will likely look to other markets to compensate.