Source HMRC
The EU-Vietnam Free Trade Agreement (FTA) came into force on 1 August 2020.
EU trade agreements can continue to apply to the UK until 31 December 2020. This includes the EU-Vietnam FTA.
The UK is seeking to agree arrangements with Vietnam to ensure trade continues with minimal disruption from 1 January 2021.
If agreed, these arrangements could maintain the effects of the EU-Vietnam agreement from 1 January 2021.
If the UK does not agree arrangements with Vietnam, existing trade agreements would no longer apply from 1 January 2021. This would mean the UK would not have preferential trade arrangements for exports to Vietnam.
