Opportunities and challenges for Nghe An enterprises when participating in the EVFTA Agreement

The comrades chairing the workshop. Photo: Phu Huong

On the morning of December 10, in Vinh city, the Provincial People's Committee organized a scientific workshop "Free Trade Agreement between Vietnam and the European Union (EVFTA) - some important commitments and things to note for Nghe An.

Attending the conference, in addition to his presenceTruong Dinh Tuyen- Former Minister of Trade, Head of the Economic Advisory Group of the Provincial People's Committee; Dr. Tran Dinh Thien - former Director of the Vietnam Economic Institute, and leaders of institutes of the Ministry of Industry and Trade, Ministry of Agriculture and Rural Development.

Comrades: Bui Dinh Long - Vice Chairman of the Provincial People's Committee; Tran Quoc Thanh - Director of the Department of Science and Technology; Tran Dinh Thien - Deputy Head of the Economic Advisory Group of the Provincial People's Committee chaired the workshop.

Make good use of opportunities, avoid risks

On June 30, 2019, Vietnam and the EU officially signed the Free Trade Agreement between Vietnam and the European Union, the Agreement officially took effect on August 1, 2020. The EU is a demanding market with

the world's highest standards on technical barriers, labor standards, environment, and origin.
Speaking at the workshop, Mr. Truong Dinh Tuyen raised a number of issues that are strictly regulated in the Agreement that businesses need to pay close attention to, such as: Tariffs, rules of origin; refurbished and recycled goods; non-tariff measures; technical barriers and food safety and disease prevention measures; issues of improving the ability to exploit the entire regional market when the Agreement comes into effect; intellectual property issues; competition policy and state-owned enterprises...

“As a new generation MDTD Agreement, EVFTA has a lot of content and a huge amount of information. Enterprises need to learn and have an overall picture of the Agreement; especially enterprises operating in any field need to thoroughly understand that field to have a full understanding and make good use of theopportunityas well as avoid unnecessary risks when participating in the Agreement" - Mr. Truong Dinh Tuyen emphasized.

Mr. Truong Dinh Tuyen recommends that businesses need to carefully study the contents of the Agreement in order to take advantage of opportunities and avoid risks when participating in the Agreement. Photo: Phu Huong.

Increase product competitiveness

Concluding the workshop after listening to the opinions of representatives of the Business Association and researchers, Vice Chairman of the Provincial People's Committee Bui Dinh Long stated: Nghe An enterprises need to be ready to take advantage of opportunities from the tariff reduction roadmap and non-tariff measures.

Learn clearly about technical barriers on quarantine, environment, food safety, labor and trade unions, legal procedures, issues related to trade defense, intellectual property for goods to enter the EU market. Quickly learn and grasp information about your business sector that is regulated according to the commitment.AVIFTA.

At the same time, invest in improving the value and quality of products and goods to strengthen product competitiveness; strengthen connections and cooperation with domestic and foreign enterprises to increase the ability to participate in the value chain; quickly implement the identification and completion of geographical indications and product origin to take advantage of opportunities to promote exports to markets of EVFTA member countries...

Textiles and garments are the products that account for a large proportion of Nghe An's total export turnover to the European market. Photo: Thanh Cuong

With the motto "Turning challenges into opportunities", in addition to the efforts of enterprises, the province will accompany, create conditions and opportunities for enterprises to develop to maximize the benefits that EVFTA brings" - the Vice Chairman of the Provincial People's Committee affirmed.