Vietnam should prepare for challenges from EU trade pact

11/3/2017 - 8:46:16 AM

Vietnamese exporters are advised to be prepared to deal with stringent regulations if they want to maximise the benefits of the EU-Vietnam Free Trade Agreement (EVFTA), which is expected to come into effect soon.

Experts, at conference on November 2, stated that the trade pact will eliminate tariffs on 99.2% of Vietnamese exports but warned that domestic enterprises may fail to enjoy such preferential treatment if they do not take the necessary steps immediately.

Expert Phan Duc Hieu from the Central Institute of Economic Management said that the EVFTA is anticipated to boost investment and technological innovations, thereby helping to improve productivity across many sectors, thanks to its broad scope of commitments.

The trade pact was concluded in 2015 and is currently in the process of ratification.

According to Claudio Dordi, leader of the EU’s trade assistance project in Vietnam, the EU has a strict consumer protection policy with high technical barriers on foreign imports, therefore Vietnam should be prepared to deal with these barriers, especially with regards to the rules of origin, before the trade agreement comes into effect.

Former Trade Minister Truong Dinh Tuyen said that Vietnam also faces difficulty in complying with the regulations on intellectual property rights, labour and the environment as, while Vietnamese enterprises are quite apathetic concerning intellectual property rights, this is one of the EU’s top requirements.

In addition, Vietnam’s agricultural products will face hurdles due to food safety regulations as pesticide residues remain high and the quality of exports is inconsistent due to poor harvest and storage practices.

According to experts at the conference, Vietnam, given its limited resources, should concentrate on a number of sectors that the country is strong in, such as garments, footwear and the assembly of electronic devices.

Moreover, Vietnam needs to continue fine-tuning its legal frameworks in order to meet the regulations on labour, intellectual property rights and the environment.

Meanwhile, measures are needed to enhance the quality of the workforce and step up trade promotion activities to further expand the EU market.

Source: NDO

Six-month industrial production index estimated to rise 20%

According to data from the Hoa Binh Provincial Party Committee, the industrial production index for the first six months of 2025 is estimated to have increased by 20% compared to the same period last year. This marks the highest year-on-year growth rate for this period since 2020.

Exports exceeded 1.1 billion USD in 6 months

In the first six months of 2025, Hoa Binh province’s export turnover was estimated at 1.145 billion USD, marking an 18.11% increase compared to the same period in 2024. Import turnover was estimated at $ 804 million, a 17.15% increase, which helped the province maintain a positive trade balance.

The effectiveness of professional models of association and group in Tan Lac district

The lives of the ethnic minority farmers in Tan Lac district have gradually improved thanks to the new directions in agricultural production. This is a testament to the collective strength fostered through the professional associations and groups implemented by various levels of the district’s Farmers’ Union.

Building the brand of Muong village clean food

With the motto the "product quality comes first,” after nearly one year of establishment and operation, Muong village’s Clean Food Agricultural and Commercial Cooperative, located in Cau Hamlet, Hung Son Commune (Kim Boi district), has launched reputable, high-quality agricultural products to the market that are well-received by consumers. The products such as Muong village’s pork sausage, salt-cured chicken, and salt-cured pork hocks have gradually carved out a place in the market and they are on the path to obtaining the OCOP certification.

Hoa Binh ethnic farmers join forces through collective economic models

In the past, the phrase "bumper harvest, rock-bottom prices" was a familiar refrain for Vietnamese farmers engaged in fragmented, small-scale agriculture. But today, a new spirit is emerging across rural areas of Hoa Binh province - one of collaboration, organisation, and collective economic models that provide a stable foundation for production.

Maintaining farming area codes: Key to bringing Hoa Binh farm produce to global market

Maintaining growing area codes and packing facility codes in accordance with regulations is a mandatory requirement for agricultural products to be eligible for export. Recently, the Department of Agriculture and Environment of Hoa Binh province has intensified technical supervision of designated farming areas and packing facilities to safeguard the "green passport" that enables its products to access international markets.