Vietnam`s accession to these trade agreements will also ensure alignment with national standards ranging from workers` rights to environmental protection. Both the CPTPP and EVFTA require Vietnam to comply with International Labour Organization (ILO) standards. Chan Lee of the ILO said this was an opportunity for Vietnam to modernize its labour laws and labour relations systems. Vietnam can also use institutional reforms and bilateral cooperation mechanisms and once again confirm to investors that it is the regional investment center for the improvement of technology, human resources and labor productivity. Vietnam`s Ministry of Commerce said signing these agreements will create opportunities to participate in the restructuring of new supply chains amid the effects of the coronavirus pandemic. On June 8, 6, the Vietnamese National Assembly approved the agreements by an overwhelming majority, with 457 deputies voting in favor of the free trade agreement and 462 for the IPA. According to some Vietnamese newspapers, the agreements could enter into force in July. At the most fundamental level, the agreements will promote jobs and growth between Vietnam and the EU. The agreements will gradually remove most tariffs, regulatory barriers and bureaucracy and should allow EU entrepreneurs to do business and invest in Vietnam. Vietnam became the 150th member of the WTO in 2007 and promised, after accession, to fully comply with the WTO agreements on customs valuation, technical barriers to trade (TBT) and sanitary and phytosanitary (SPS) measures. The United States and Vietnam concluded a bilateral trade agreement (BTA) in 2000, which entered into force in 2001.
 Awareness of the TPP in Vietnamese political and economic circles increased during the economic turbulence in Vietnam from 2008 to 2013, which increased the Vietnamese government`s pressure for accession.  On 12 February 2020, the European Parliament ratified the EU-Vietnam Free Trade Agreement (EUEEC) and the EU-Vietnam Investor Protection Agreement (EUVIPA). The agreement is expected to be ratified by the Vietnamese government by May 2020 and thus enter into force. The agreement, which contains significant commitments on tariff reduction, investor protection and trade facilitation, will have a huge impact on exporting companies, foreign investors and consumers in Vietnam. . . .