Trade Winners, losers expected from EVFTA The Saigon Times Friday, May 29, 2020,10:00 (GMT+7) Winners, losers expected from EVFTA The Saigon Times The EVFTA contains strong commitments for both the European Union and Vietnam, but there will be many changes, and there may not be an easy transition for all parties involved – PHOTO: VGP HCMC – As free trade agreements (FTAs), including the EU–Vietnam Free Trade Agreement (EVFTA) that is about to be ratified by the Vietnam National Assembly, tend to be asymmetric in nature, there will be both winners and losers once the EVFTA comes into force. According to Dr John Walsh, International Business Program manager at RMIT University Vietnam, even though the EVFTA offers a win-win situation overall, that does not mean the benefits will be equally divided at each stage. Similarly, there will be a great deal of change, and there may not be an easy transition for all parties involved. “If we look at famous FTAs such as the North American Free Trade Agreement, this is commonly considered a loss for the United States because the government seemingly took insufficient care to provide alternative job opportunities to people whose manufacturing jobs were lost, especially those who lived in communities… Read full this story
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