On 8 June 2020 Vietnam ratified the European Union – Vietnam Free Trade Agreement (EVFTA) and the European Union – Vietnam Investment Protection Agreement (EVIPA). The EVFTA will provide expansive preferential markets access for goods traded between Vietnam and the European Union (EU). The EVFTA will enter into effect on 1 August 2020.

In order to export from Vietnam to the EU, exporters must have a REX number in order to complete shipments valued at over EUR 6,000 from 1 July onwards. REX numbers are required for shipments regardless of whether or not goods are traded under EVFTA preferential terms.

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Thanh Vinh Nguyen is a partner in the Ho Chi Minh City office of Baker McKenzie. Before joining the Firm, he practiced tax and consultancy work for two international accounting firms and worked as a compliance counsel for an international insurance company.