EVFTA opens the trade between Vietnam and Hungary – Opportunities for future development

From August 1, 2020, the EVFTA officially takes effect. After more than a year, the agreement has brought many positive economic results for both Vietnam Hungary. Vietnam was the first country to reach 1 billion USD in export turnover to Hungary and has been continuously leading since 2020 until now. On the Hungarian side, the export value of Hungarian products to Vietnam has increased steadily over the past 50 years. Hungarian enterprises have confidentially introduced various products to the Vietnamese consumers from high-tech products to the food products. The EVFTA Agreement will create a resilience to help the economic after Covid 19.