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The EVFTA Agreement gives Vietnam enterprises an opportunity to increase export turnover to the EU

WP - On August 6, Prime Minister Nguyen Xuan Phuc hosted an online conference on "Implementation of the Plan for the Implementation of the Free Trade Agreement between Vietnam and the European Union (EVFTA)". Attending the conference were Deputy Prime Minister Pham Binh Minh, leaders of ministries, branches and localities; At the head of Dong Nai bridge, there are Chairman of Provincial People's Committee Cao Tien Dung and leaders of departments; some typical business associations and enterprises


ThutuongXPhuc.jpgPrime Minister Nguyen Xuan Phuc chaired the conference

The conference was held right after the EVFTA Agreement took effect on August 1 and the Government's Action Program to implement EVFTA was signed by the Prime Minister on August 5 with 5 main groups of tasks.

 EVFTA is a new generation free trade agreement, with high standards, comprehensive, large openness and balance of interests for both sides. The agreement will contribute to increase GDP on average up to 3.25% for the first 5 years of implementation, up to 5.3% for the next 5 years and up to 7.72% in the next 5 years. With a strong commitment to opening up the market, eliminating import duties up to nearly 100% of the EU tariff, EVFTA is expected to open up opportunities for Vietnam businesses to increase their exports to the EU by about 42% in 2025 and nearly 45% in 2030 and increasing the attraction of FDI into Vietnam simultaneously.

CTCaoTD.jpg 

Chairman of the Provincial People's Committee, Mr. Cao Tien Dung and representatives from departments and branches at Dong Nai bridge point.

At the conference, many ministries, sectors, localities, business associations, big enterprises, EU countries' ambassadors contributed their opinions on many issues, from direct impact on the effectiveness of EVFTA implementation as well as taking advantage of the opportunities and gaining benefits from this agreement.

Speaking at the conference, Prime Minister Mr. Nguyen Xuan Phuc affirmed that this is a very important agreement for the Vietnamese economy. The ministries and localities base on the Government's general plan to promulgate their action programs. The concrete, practical, effective and cost-saving ways are to accompany the Government to bring opportunities to reality. The agreement exists, but its implementation needs a lot of effort and must put the national interests first. The Ministry of Industry and Trade is the focal point and conductor coordinating efforts to implement EVFTA, avoiding the spread and distribution of resources, ensuring consistency in the process of effective application and effective implementation of commitments. On the part of businesses that make efforts to create, act, seize opportunities to grow up and take advantage of the opportunities from the agreement.

Vi Quan

 


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