What BREXIT may mean to Vietnam

HO CHI MINH CITY -  As the so-called ‘experts’ worldwide gush over the implications of Brexit, lawyers Baker & McKenzie have taken a simple example – the potential impact on Vietnam. In a Client Alert, the firm says:

“Brexit is likely to impact us in Vietnam in a number of ways, but one immediate casualty is likely to be the EU – Vietnam Free Trade Agreement.  There are several scenarios for what might happen. 
• “First, the “EV FTA” could go ahead with the rest of the EU and Vietnam, but without England.
• “Second, England could sign on as a separate signatory, making it a three party treaty.
• “Third, Vietnam could request to renegotiate if it deems the balance of concessions has shifted out of its favour by virtue of the loss of market access in England.
“There are variations that might follow one of the other models outlined in our Client Alert. Each scenario has its own complications and it will take time before the relevant people have the bandwidth to get around to figuring it out, given how many other trade issues they will be dealing with.” Inquiries to Fred Burke, Managing Partner B&M Vietnam, email  fred.burke@bakermckenzie.com   (ATI).