Asean Free Trade Agreement Vietnam

These include bilateral investment agreements, double taxation treaties and free trade agreements that have a direct impact on companies operating in Asia. Upon the entry into force of such trade agreements, these trade agreements will allow Vietnam to use tariff reductions, both within the ASEAN Economic Community (ACS) and with the EU and the United States, to attract exporting companies to partners outside ASEAN. ASEAN, the Association of Southeast Asian Nations, is gaining importance as a trading bloc and is now the third largest in the world after the European Union and the North American Free Trade Agreement. Composed of the Asian Tigers of Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam (ASEAN 6) with smaller players such as Brunei, Cambodia, Laos and Myanmar, it has a combined GDP of $2.31 trillion (2012) and is home to about 600 million people…