1. This agreement enters into force on the date the parties have exchanged notifications that each contracting party has completed the necessary legal procedures for this purpose and remains in force for three years. 2. This agreement is extended for three years if neither party notifies its intention to denounce this agreement at least thirty days before the expiry of a mandate. 3. Where a contracting party does not have domestic power to discharge its obligations under this agreement, each party may suspend the application of this agreement or, with the agreement of the other party, a portion of this agreement, including the treatment of the MFN. In this case, the parties try to minimize, as far as possible, the adverse effects on existing commercial relations between the contracting parties, in accordance with national law. IN WITNESS THEREOF, the undersigned, duly approved by their respective governments, have signed this agreement. DONE in Washington D.C., in two ballot boxes, on this thirteenth July 2000, in English and Vietnamese, each text being just as authentic. FOR THE U.S.-U.S. GOVERNMENT: FOR THE VIETNAM SOCIALIST REPUBLIC GOVERNMENT: Trade figures between the United States and Vietnam have increased with Vietnam`s GDP per capita (see Chart 1)  The Free Trade Agreement between the European Union and Vietnam (EVFTA) is the second largest free trade agreement between the EU and A.K.A.
Vietnam is the second country to have signed trade and investment agreements in the region. Contracting parties may negotiate commitments on trade in services that are not subject to the Schedule under Articles 6 or 7, including those relating to qualifications, standards or licensing issues. These commitments must be taken into account in a party`s schedule. Vietnam signed a fairly comprehensive bilateral trade agreement (BTA) with the United States in 2000. It came into force in 2001. The BTA was part of the post-war „trade normalization“ process between the two countries and was to be seen as the powerful precursor to a watertight U.S. free trade agreement. In June 2007, Hanoi and Washington signed a framework agreement on trade and investment, another step towards a possible free trade agreement. And in December 2008, the two governments began negotiating a bilateral investment agreement (ILO), which is another. In February 2020, the European Parliament ratified a free trade agreement (FTA) and an Investment Protection Agreement (PPI) with Vietnam. MEPs (ENPs) voted in favour of the agreements in Strasbourg.
The House remains hopeful that the United States and Vietnam will eventually want to conclude a free trade agreement, while bending to the reality that such an agreement is not a short-term prospect. And since the United States is not in the CPT, our nation`s leaders need to think about ways to develop bilateral trade and investment. 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. 1. This chapter does not apply to the benefits granted or concluded by a party under that party`s adherence to a trade liberalisation agreement between or between the parties to such an agreement, provided that such an agreement applies for the purposes of this chapter and Appendix G: 1.