Trade plays a key role in Vietnam’s economic development strategy and a range of multilateral and bilateral trade agreements under negotiation reflect this importance. The EU and Vietnam officially launched negotiations for the Free Trade Agreement (FTA) in June 2012. The European Union and Vietnam finished negotiating the FTA in Brussels in December 2015 after 14 rounds of negotiations. In July 2018, the EU and Vietnam concluded the Investment Protection Agreement (IPA). The EU-Vietnam FTA and the Investment Protection Agreement (IPA) are modern and comprehensive deals. They will remove nearly all tariffs on goods traded between the two economies. They show the shared conviction of the EU and Vietnam that trade is essential to growth, the creation of jobs and sustainable development.