A Free trade Agreement (FTA) is an agreement between two or more countries where the countries agree on certain obligations that affect trade in goods and services, and protections for investors and intellectual property rights, among other topics. Under a free trade policy, goods and services can be bought and sold across international borders with little or no government tariffs, quotas, subsidies, or prohibitions to inhibit their exchange.

If you are looking to export your product or service, Viet Nam may have negotiated favorable treatment through an FTA to make it easier and cheaper for you. Accessing FTA benefits for your product may require more record-keeping but can also give your product a competitive advantage versus products from other countries. FTAs typically address a wide variety of government activity that may affect your business:
 

• Reduction or elimination of tariffs on qualified. For example, a country that normally charges a tariff of 12% of the value of the incoming product will eliminate that tariff for products that originate (as defined in the FTA) in the export country This makes you more competitive in the market.
• Intellectual Property Protection: protection and enforcement of intellectual property rights in the FTA partner country.
• Product Standards: the ability for exporters to participate in the development of product standards in the FTA partner country.
• Service companies: the ability for exporting country service suppliers to supply their services in the FTA partner country

To date, Viet Nam has signed 16 FTAs and is negotiating two other FTAs. The latest ones that Viet Nam is engaged are CPTPP (in effect from 14.01.2019), EVFTA (in effect from 01.08.2020), and UKVFTA (in effect from 01.01.2021).