Webinar reviews one-year implementation of EVFTA

News

Webinar reviews one-year implementation of EVFTA

Friday, August 27, 2021

A webinar reviewing the one-year implementation of the EU-Vietnam Free Trade Agreement (EVFTA) was jointly held by the Vietnam Chamber of Commerce and Industry (VCCI) and the European Chamber of Commerce in Vietnam (EuroCham) on August 27.

The webinar reviews one-year implementation of EVFTA

Participants to the event looked at difficulties in carrying out the deal and proposed solutions to maximise the benefits brought by it.

VCCI Chairman Vu Tien Loc said that taking effect in August 2020, when the economies of the two sides and the whole world are struggling to overcome difficulties from the COVID-19 pandemic, the agreement has other expectations, becoming one of the drivers for businesses and economies of both sides.

He underlined the need to have solutions from both State policies and strategies from businesses to handle all the risks at present and in the future.

Besides Vietnam, the EU has FTAs with three economies in Asia, including Japan, the Republic of Korea and Singapore. Vietnam has no direct competitors among these, Loc said.

The EVFTA has contributed significantly to Vietnam's aquatic export achievements in recent times. Up to 50 percent of tariff lines were reduced to zero percent before 2020, including tax rates for key exports.

However, the COVID-19 pandemic is strongly affecting raw material production, reducing the opportunity of Vietnam to take advantage of preferential tax lines, he noted.

In the remaining months of 2021, Vietnam's aquatic exports to the EU is forecast to be severely affected by the pandemic, possibly down at least 9 percent over the same period last year, reaching 3.66 billion USD.

Vietnam is predicted to earn 8.6 billion USD from exporting aquatic products this year, up 2.7 percent compared to the figure of 2020.

VNA

Other news

Yen Bai City: 64% of Residents Regularly Engage in Sports Activities

A large number of Yen Bai City residents participate in Pickleball activities.

Yen Bai – The movement "All People Exercise Following the Example of Great Uncle Ho" has been widely promoted among officials, public servants, and residents of Yen Bai City, leading to significant participation in regular sports and fitness activities, reaching a rate of 64%.

Yên Bái Ranks 8th Nationwide for Public Service Portal in 2024

An official at Yen Bai’s Public Administration Service Center guides citizens through administrative procedures.

In 2024, Yen Bai Province's Public Service Portal ranked 8th out of 63 provinces and centrally governed cities, thanks to its strong efforts in administrative reform and the development of online public services.

OCOP: Elevating Yen Bai’s Agricultural Products

The Director of the Mu Cang Chai Agricultural Construction and Services Cooperative introduces their natural flower honey product.

Each OCOP product is not just a commodity but a symbol of the land and its people, carrying stories of cultural identity, creativity, and aspirations for growth. In Yen Bai, the “One Commune, One Product” (OCOP) program has been a significant driver in establishing local agricultural brands, enhancing value, and conquering both domestic and international markets.

Nghia Lo: Cultural Identity as a Tourism Highlight

The vibrant ethnic cultural performances at Nghia Lo’s Walking Street have drawn significant attention from both locals and tourists, further cementing the town's reputation as a must-visit cultural destination.

Nghia Lo, a land that is famous for the diverse cultural heritage of Northwest Vietnam’s ethnic communities, is home to several nationally recognized intangible cultural heritages. These cultural assets have positioned Muong Lo – Nghia Lo as a sought-after destination for both domestic and international travelers, contributing to its growing prominence on the tourism map of Yen Bai province.

News