Illustrative image (Photo: VNA)
– Vietnam has been making good use of advantages of the
international economic integration process, helping to increase the country’s
exports by 22 percent year-on-year and imports by 26 percent in the first
quarter of 2021, said Tran Thanh Hai, Deputy Director of the Agency of Foreign
Trade under the Ministry of Industry and Trade.
Talking to the press, Hai said the EU-Vietnam Free Trade
Agreement (EVFTA), the UK-Vietnam Free Trade Agreement (UKVFTA) and the Comprehensive
and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have become
effective, and the Regional Comprehensive Economic Partnership (RCEP) is about
to come into effect.
For the EU market, several Vietnamese commodities have
enjoyed incentives of the EU’s Generalised System of Preferences (GSP) for
However, for the long term, taking advantage of
opportunities brought about by the EVFTA is a sustainable and equal preference.
Specially, for the commodities that Vietnam has advantage, they can enjoy
preferences on origins combined in the EVFTA, Hai said.
He advised enterprises to bring into full play advantages of
the agreement by understanding the advantages for their commodities and then
change their production process and material supply to meet requirements of
Looking back on the import-export figures in the first
quarter, Hai said, electronic products, electric appliances and furniture are
the most benefitted as increasing demand from the European and North American
However, such products as garment and textiles and footwear
are facing difficulties caused by the disruption of the supply chains.
Hai also proposed businesses take the initiative and make
good preparations to deal with any possible instable factors.
During January – March, Vietnam’s import-export turnover is
estimated at 152.65 billion USD, up 24.1 percent year-on-year./.