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EVFTA gives strong boost for Viet Nam’s exports

VGP - The EU-Viet Nam Free Trade Agreement (EVFTA) has created a strong boost for Viet Nam’s exports, said Deputy Director of Import and Export Department under the Ministry of Industry and Trade Tran Thanh Hai at a seminar held on August 8.

Posts Thuy Dung

August 09, 2022 1:47 PM GMT+7
EVFTA creates strong boost for Viet Nam’s exports  - Ảnh 1.

According to the statistics of the General Department of Customs, trade between Viet Nam and the EU hit US$57.01 billion in 2021, up 14.5 percent against the previous year.

Of the figure, Viet Nam's export turnover increaed by 14.2 percent to US$40.1 billion while its import value rose 15.3 percent to US$16.9 billion.

The Southeast Asian nation enjoyed a trade surplus of US$ 23.23 billion with the EU in 2021.

Since the EVFTA took effect on August 1, 2020, Viet Nam has gained US$83 billion from exporting to the EU, up 15 percent.

Tran said that, over the last two years, almost all Viet Nam's export items to the EU grew  remarkably, especially iron and steel up 100 percent, coffee up 75.2 percent and peppercorn up 55.8 percent.

About US$5.8 billion-worth goods that Viet Nam exported to the EU market were granted the certificate of origin (C/O) form EUR.1 over the first half of 2022, accounting for one fourths of the nation's total exports to the EU.