The Bilateral Trade Agreement between the United States and Vietnam (BTA) is a comprehensive document on trade in goods, protection of intellectual property rights, trade in services, investment protection, business facilitation and transparency. The 140-day agreement, which lasted nearly five years, is highly technical and was drafted in accordance with the World Trade Organization (WTO) and other international trade and investment principles. The BTA can essentially be summarized as a commitment by both parties to create the necessary conditions for the products, businesses and nationals of the other party to have equitable access to competition in the other party`s markets. As an ASEAN member, Vietnam is involved in the bloc`s regional free trade agreements with Korea, the EU, China, Japan and India. The Vietnamese government has also signed a series of bilateral agreements on intellectual property, science and technology with industrialized countries and more than 30 ILOs. Vietnam, which became the 150th member of the WTO in 2007, promised, after its accession, to fully comply with WTO agreements on customs assessment, technical barriers to trade (OTC) and health and plant health measures (SPS). The United States and Vietnam concluded a bilateral trade agreement (BTA) in 2000 that came into force in 2001. Vietnam can also take advantage of institutional reforms and bilateral cooperation mechanisms and reaffirm to investors that it is the regional investment centre for improving technology, human resources and labour productivity. The Vietnamese Ministry of Commerce considered that the signing of these agreements would create opportunities to participate in the restructuring of new supply chains, amid the consequences of the coronavirus pandemic.
It describes the bilateral and multilateral trade agreements to which that country belongs, including with the United States. Includes websites and other resources that allow U.S. companies to get more information about how they can use these agreements. The Free Trade Agreement between the European Union and Vietnam (EVFTA) is the second free trade agreement between the EU and an ASEAN country after Singapore. Vietnam is the second country to have signed trade and investment agreements in the region. Such agreements illustrate the strength of EU-Vietnam relations and the opportunities Europe sees in the Southeast Asian country.