The APC regulates the overall relationship between the EU and Vietnam. It is based on common interests and principles such as equality, mutual respect, the rule of law and human rights. It broadens the scope of cooperation in areas such as trade, the environment, energy, science and technology, good governance, tourism, culture, migration, the fight against terrorism and the fight against corruption and organised crime. It also allows Vietnam and the EU to further strengthen cooperation on global and regional challenges, including climate change, terrorism and the non-proliferation of weapons of mass destruction. The TFUE is expected to remain in force until the end of the year, while the UK (UK) is still in a customs union with the EU. The situation from 1 January 2021 will depend on the decision of the United Kingdom and Vietnam to agree on their own bilateral agreement, although this is unlikely in the short term, given that Vietnam is not one of the UK`s priority free trade countries (including the EU, the United States, Japan, Australia and New Zealand). The question of a possible diagonal or extended accumulation of origin between the UK, the EU and Vietnam (i.e. when parts of countries not participating in a free trade agreement. B, for example the United Kingdom from 2021, can be considered “original products” and thus help to satisfy the preferential rule of origin of a product) depends on the willingness of the three parties to approve it. At present, the EU does not foresee any possibility of such an extended accumulation in its free trade agreements with the United Kingdom for a free trade agreement. Trade and investment agreements develop the commercial dimension of bilateral relations BETWEEN the EU and Vietnam, which are grounded and governed by the EU-Vietnam Framework Agreement on Partnership and Cooperation, which came into force in October 2016. Such agreements illustrate the strength of EU-Vietnam relations and the opportunities Europe sees in the Southeast Asian country. The EU is achieving a long-term goal of increasing its influence and expansion in ASEAN markets by targeting Vietnam, and European entrepreneurs will have better access to one of the fastest growing Asian economies when the agreements come into force.

Despite the interruption of the coronavirus pandemic and the slowdown in the global economy, Vietnam is expected to continue to record economic growth of 4.8% this year, returning to 6.8% in 2021.