The EU-Vietnam Free Trade Agreement (EVFTA) will take effect on August 1, 2020. According to analyses by the Vietnamese and World Bank, the EVFTA is expected to increase Vietnam's GDP growth by 2.18-3.25% by 2023, 4.57-5.3% by 2028, and 7.07-7.72% by 2033. It will also lift around 800,000 people out of poverty by 2030. The EVFTA eliminates over 90% of import tariffs between the EU and Vietnam within 10 years, providing significant opportunities for businesses and consumers in both markets. The agreement establishes fair competition rules and opens key sectors in Vietnam like services, procurement