A deeper look at Vietnam's trade deal with Europe

Abstract

The EU’s drive to become the defender of multilateralism promises further opportunities for Southeast Asia. On June 30, Vietnam signed a trade agreement and investment protection agreement with the European Union (EU). In doing so, the country became the second member of the Association of Southeast Asian Nations (ASEAN), following Singapore, to conclude a major trade agreement with the EU. Although the news was partly upstaged by the EU’s agreement with the South American trade bloc Mercosur just a few days earlier, the deal has important implications not only for Vietnam’s relationship with Europe, but for the EU’s wider role in Southeast Asia.