TAKING ADVANTAGE OF EVFTA

Vietnam Europe free trade agreement EVFTA has been enforced since August 1, 2020. This is a new generation FTA being enforced at the time the Covid-19 pandemic is expanding. However, EVFTA still opens up many prospects for Vietnamese enterprises if they can seize their opportunities.

Being one of very few small and medium enterprises in Haiphong not reducing output due to the effects of covid-19 pandemic, the production and business of Vietnam plastic limited company has still been stabilized, while batches of plastic bags used in supermarkets have been regularly exported to the European and US markets. About 20% of  plastic bags can be self-decomposed because they used corn powder friendly to the environment. Grasping the opportunities from EVFTA, the enterprise has invested in modern production line, applied digitalization, sought for partners on the world’s famous websites.

EVFTA is not only a good news for Vietnamese firms, the country’s goods importers from EU also benefit from the import taxes so they are actively promoting good imports. In the pandemic season, there is a trend to move factories from other nations to Vietnam. Thus, many enterprises have invested in modern production lines to take the golden opportunities in the first year the EFVTA is enforced.

To actively support enterprises, Haiphong department of industry and trade has held training courses and online courses about the agreement. Since August 1, the department directed the international cooperation and investment management bureau to focus on granting good origin certificates to export to EU markets for eligible firms./.