The Vietnam-EU Free Trade Agreement (EVFTA) took effect on August 1, bringing a great opportunity for Vietnam’s exports, helping to diversify export markets and commodities. Vietnam’s advantageous export products have high tax cuts such as: Agricultural products, seafood, wooden products, garments and textiles, footwear, electronics.
Motivated by the EVFTA, goods originating from Vietnam will improve their competitive advantage over goods originating from competitors in the EU market.
The Ministry of Industry and Trade assessed that the number of issued Certificates of Origin (C / O) form EUR.1 since the EVFTA took effect showed the level of interest of businesses as well as the importance of this market for Vietnamese exports.
The items that have been granted the C/O form EUR.1 C / O are mainly footwear, seafood, plastic and plastic products, coffee, garments and textiles, bags, suitcases, vegetables, rattan and bamboo products.
Most import markets are countries which have ports,distribution and transshipment centers of the EU such as Belgium, Germany, the Netherlands, France and the UK. In particular, many shipments have arrived in the EU market, cleared customs and enjoyed preferential treatment.
By Uyen Nhu/ Huyen Trang
- Over 7200 certificates of origin issued for exports to EU under EVFTA
- Over 7200 C/Os issued in first month of implementation of EVFTA
- Positive export figures after two months of EVFTA being in effect
- Two months after EVFTA takes effect, leather, footwear and seafood exports increase
- Vietnamese footwear struggles to export into American, Chinese, Japanese markets
- Vietnam enjoys US$378 billion in exports to EU since bilateral FTA taking effect
- Room remains large for Vietnam to increase exports to EU
- Seafood export orders see sharp increase after EVFTA took effect
- EVFTA, CPTPP bring about great economic benefits for Vietnam
- Aquatic exports to EU to enjoy zero tax once EVFTA takes effect
