The Vietnam-Korea Free Trade Agreement (NAFTA) entered into force on 20 December 2015. Of the many free trade agreements signed by Vietnam in 2015, it is the only important one to have actually entered into force in 2015. Since tariffs are reduced each year from the first year of CEFTA, the second year of tariff reduction entered into force immediately from 1 January 2016. Like other agreements signed between Vietnam and other developed countries, the United Kingdom promotes investment opportunities, trade and economic growth. It also highlights some issues that Vietnam needs to address, such as intellectual property rights, competition policy, trade in services and environmental legislation.