A Comparison between Vietnam's Commitments in Financial Services under WTO, CPTPP and EVFTA

Venture North Law Firm

1st May 2020
The full texts of The Comprehensive And Progressive Agreement For Trans-Pacific Partnership Agreement (CPTPP) and The Free Trade Agreement Between Vietnam And European Union (EVFTA) have been made available for public information. The table constructed here tries to compare the existing commitments of Vietnam under WTO Agreement, CPTPP and EVFTA Agreement in Financial Services.

The full text of The Comprehensive And Progressive Agreement For Trans-Pacific Partnership Agreement (CPTPP) and The Free Trade Agreement Between Vietnam And European Union (EVFTA) have been made available for public information. The table below tries to compare the existing commitments of Vietnam under WTO Agreement, CPTPP and EVFTA Agreement in Financial Services. The comparison is done by Tran Thuy Tien, and Nguyen Bich Ngoc.

Notes:

  • Vietnam’s specific commitments in financial services are contained in Section II.7 of Schedule CLX – Vietnam (Specific commitments in Services) of the WTO Agreement, Chapter 11 and Annex III (Vietnam) of CPTPP, and Chapter 8 and annex 8-B of the EVFTA. The list below covers specific commitments in specific sub-sectors. But there are commitments which apply to all sectors and are not listed in here.

  • CPC Codes are as used in The Provisional Central Product Classification.

  • No limitation means no limits on national treatments in terms of foreign ownership, form of investment or other restrictions.

  • Unless otherwise indicated in each specific sector or sub-sector, the establishment of branches is unbound.

  • Share acquisition is generally allowed with no foreign ownership limitation for committed sectors and sub-sectors unless otherwise indicated.

Full Table Below:

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Venture North Law Firm

Venture North Law Limited (VNLaw) is a Vietnamese law firm established by Nguyen Quang Vu, a business lawyer with more than 17 years of experience. VNLaw is a boutique professional law firm focusing on corporate, commercial and M&A practices in Vietnam. Our goal is to be an efficient, innovative and client-friendly firm. To achieve that goal, we are designing a working environment and a compensation system which encourage our lawyers to provide more efficient services to clients and to focus on the long term benefit of the firm.

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