Motivated by signsin major markets such as the US and the EU, Vietnam's wood industry is forecast to have more opportunities to develop its brand and export value in the near future.
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Fruit and vegetable exports are unlikely to hit the target of US$4-5 billion set for this year, according to the Việt Nam Fruit and Vegetables Association.
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Building an effective trade defence system is increasingly important for Việt Nam. Vietnam News Agency talks to Lương Hoàng Thái, director of the Multilateral Trade Policy Department under the Ministry of Industry and Trade, about this issue in light of the EU-Việt Nam Free Trade Agreement.
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In the first two months of the year, the evolution of the Covid-19 epidemic has greatly affected the import and export of Vietnamese goods. It is predicted that this disease will continue to cause many difficulties in the short term, but there are also opportunities to open from new generation FTAs, typically the Vietnam-EU FTA (EVFTA).
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The nation is expected to represent a safe choice for foreign investors in their capital shifting plans in the context of the novel coronavirus (CODIV-19) epidemic which is currently spreading globally.
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To make best use of opportunities, especially to promote the export of goods to the EU when the Vietnam-EU Free Trade Agreement (EVFTA) comes into effect, setting up a plan of action, completing the legal framework, ensuring to meet the rules of origin of goods...are the jobs that have been strongly implemented by ministries and branches.
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To convert the nation's aspirations for prosperity into reality, the Politburo has issued Resolution No.50/NQ-TW on August 20, 2019, outlining directions to perfect institutions and policies to improve foreign investment efficiency and cooperation until 2030.
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Although the free trade agreement between the European Union and Vietnam will offer great opportunities for wood investors and exporters, its rules of origin may not provide a big boon to local textile and garment businesses.
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The textile and footwear industry must pay more attention to the origin and quality of exported products.
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The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) between Vietnam and the first six countries which took effect since December 30, 2018, is considered as a big opportunity to boost export volume and create conditions for enterprises to develop production and trade but the result after a year of implementation remains extremely modest.
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