Visitors look at an agricultural product display at a conference on boosting exports to the EU under the EU-Vietnam Free Trade Agreement held last week in HCM City. (Photo: VNA) HCM City (VNS/VNA)- Vietnam is continuing its institutional reform commitmentsmade in the historic EU-Vietnam Free Trade Agreement (EVFTA) in an aimto boost exports of agricultural products and attract more investmentfrom the EU trading bloc.
Vo Tan Thanh, Vice Chairman ofthe Vietnam Chamber of Commerce and Industry (VCCI), said the country has madehuge progress in administrative reform and improvement ofthe business environment.
“After the EVFTA took effect inAugust, exports to the EU in August and September increased by 4.2 percentcompared to the same period last year. In September alone, exports increased bymore than 14 percent year-on-year,” he said.
However, the EU is ahighly demanding market and exporters must meet its food safety standardsand management procedures, and provide transparent information abouttheir labour force and working environment, he noted.
European consumersprefer high-quality products, especially those that are organicor fair trade, or have geographical indications, according to Thanh.
He urged farmers togradually shift from traditional to more sustainable cultivation, andto adhere to food safety and hygiene regulations inthe EVFTA and other FTAs.
Exporters must alsofollow the rules of origin (RO) and engage in corporate socialresponsibility (CSR), sustainable development and environmentalprotection, said Thanh, who spoke at a conference on Vietnamese farmproduce exports to the EU under the EVFTA organised last week in HCM City.
Le Duy Minh, Chairman of the VietnamFarms and Agricultural Enterprises Association (VFAEA), noted that the EUis the third largest trade partner of Vietnam and one of the country’s twobiggest export markets. Exports of agro-forestry-fishery products to theEU stand at nearly 5 billion USD per year.
Pham Van Duy, Deputy Directorof the Ministry of Agriculture and Rural Development’s Agro-product Processingand Market Development Department, said: “The EU is a choosy market, someeting the EU’s requirements will help businesses open the door to othermarkets in the world.”
He said that it wasimportant to protect intellectual property of major agriculturalproducts, and to promote branding, geographical indications, andtraceability.
For the past decade, Vietnameseexports of agricultural, forestry and aquatic products grew more than 9 percenton average each year.
Vietnam’s agricultural sectorwill be one of the biggest winners from the EVFTA, as reductions in tariffswill increase demand and boost exports to Europe’s high-spending consumermarket, according to experts.
Trade in agricultural productsrepresents nearly 12 percent of the total two-way trade between Vietnam and theEU.
The trade pact abolishes 99 percentof import tariffs over the next seven to 10 years.
With a population of more than500 million and a combined GDP of over 15 trillion USD, accounting for 22 percentof the world’s GDP, the EU is the world's largest exporter andimporter with annual trade of 3.8 trillion USD./.
VNA
