The benefits of free trade agreements will allow Vietnam`s economic development to continue to shift from the export of low-tech manufacturing products and primary goods to more complex high-tech goods such as electronics, machinery, vehicles and medical equipment. The last major breakthrough came on October 8, 1972. Previously, North Vietnam had been disappointed by the results of its Nguyen Hue offensive (known in the west as the Easter Offensive), which caused the US to retaliate with “Operation Linebacker,” a major aerial bomb campaign that mitigated the advance from north to south and caused damage to the north. They also feared increasing isolation if Nixon`s détente efforts significantly improved U.S. relations with the communist high powers, the Soviet Union and the People`s Republic of China, which supported the military efforts of northern Vietnam. In a meeting with Kissinger, Th𓐥 significantly changed his negotiating line, allowing the Saigon government to stay in power and allow the two South Vietnamese sides to develop a final settlement. Within 10 days, a final draft was drawn up during the secret discussions. Kissinger held a press conference in Washington during which he announced that “peace is near.” Get inspired by some of the small businesses looking forward to the EU-Vietnam trade deal When Thiệu, who had not even been informed of the secret negotiations yet, was confronted with the draft new deal, he was angry with Kissinger and Nixon (acutely aware of South Vietnam`s negotiating position) and refused, accept it without substantial modifications. He then gave several speeches on public radio, saying the proposed deal was worse than it actually was.
Hanoi was stunned and believed he had been deceived by Kissinger for a propaganda trick. On October 26, Radio Hanoi sent important details of the draft agreement. Vietnam`s executive body, the National Assembly, has ratified important investment agreements with the European Union (“EU”) and adopted a number of other laws relevant to foreign investors. Free trade agreements (TFAs) are when two or more countries agree on trade terms between them. They determine the value of customs duties and customs duties imposed by countries on imports and exports.. . . .