Switzerland (which maintains a customs union with Liechtenstein, which is sometimes included in agreements) has bilateral agreements with the following countries and blocs: Trade and investment agreements develop the trade dimension of the EU-Vietnam bilateral relations, which are grounded and are governed by the EU-Vietnam Framework Agreement on Partnership and Cooperation (APC) which came into force in October 2016. Vietnam is a member of the Association of Southeast Asian Nations (ASEAN) and a member of the ASEAN Free Trade Area (AFTA). As part of the AFTA, ASEAN members (including Brunei, the Philippines, Indonesia, Laos, Myanmar, Malaysia, Singapore, Thailand and Cambodia) are committed to making the region a competitive trading area. Along with the ASEAN countries, Vietnam has also signed trade pacts with China, the Republic of Korea, Australia and New Zealand, India, Chile and Japan. It signed a bilateral trade agreement with Korea in 2015 and a trade agreement with the Russian-led customs union bloc. Vietnam has concluded all bilateral negotiations on the Trans-Pacific Partnership (TPP) free trade agreement but has not yet ratified the agreement. In February 2016, Vietnam concluded negotiations for a free trade agreement with the EU and is awaiting ratification by the Council of Ministers. Vietnam is currently negotiating a free trade agreement with EFTA countries (Norway, Iceland, Liechtenstein and Switzerland). The Eurasian Economic Union, composed of Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, has concluded free trade agreements, see below. These trade agreements will benefit both parties and foreign investors will be able to take advantage of opportunities to invest in Vietnam.
But it is still too early to conclude the positive effects of these agreements. The spotlight will now shift to how the potential benefits and losses for both parties translate into reality and on those who could earn the most. Afghanistan has bilateral agreements with the following countries and blocs: The People`s Republic of China has bilateral trade agreements with the blocs, countries and its two specific administrative regions: Singapore has experienced economic growth since the signing of its free trade agreements. These agreements have helped local businesses and investors access overseas markets, move their products faster and easier, and benefit from tariff concessions, preferential access to certain sectors and protection from mental protection. According to a study by Singapore`s Ministry of Trade and Industry, free trade companies have saved about $730 million in tariffs and bilateral trade has increased by $9.7 million and bilateral investment has increased 26-fold.