EVFTA: First success and future opportunities

The EVFTA has already had a significant impact on EU-Viet Nam bilateral trade since its entry into force on August 1st, 2020 as is reflected by the strong growth of Viet Nam’s exports to the EU in recent months. 

According to the General Statistics Office, Viet Nam’s exports and imports from the EU hit US$32.3 billion and US$13.2 billion, down 2.4% and up 4.3%, respectively.

The seminar created an opportunity for all parties to discuss the initial achievements as well as the challenges posed by the current reality in order to better prepare to fully tap the opportunities and benefits that the EVFTA can bring in the future.

Some Vietnamese products have immediately enjoyed the benefits of the EVFTA, such as agricultural, fisheries, and footwear products, said Head of the Delegation of the European Union to Viet Nam, Ambassador Giorgio Aliberti. 

This event will provide a constructive forum for open discussions towards effective implementation of the agreement to boost further bilateral trade, he added. 

The seminar, attended by officials from Vietnamese Government agencies, members of Vietnamese and European trade associations, and the Vietnamese business community, especially small and medium-sized enterprises, is expected to bring new perspectives and practical experience on how to fully utilize the benefits of EVFTA, thereby facilitating trade, attracting more investment from the EU, and contributing to the sustainable development of Viet Nam./.

By Thuy Dung