Conference sought to help businesses accelerate post-pandemic development

Conference sought to help businesses accelerate post-pandemic development
Deputy Minister of Industry and Trade Tran Quoc Khanh speaks at the conference (Photo: VNA)

Hanoi (VNA) – A conference discussing measures to fully tap into opportunities brought about by the EU-Vietnam Free Trade Agreement (EVFTA) and support Vietnamese enterprises in promoting post-pandemic development was held in Hanoi on June 29.

The event is part of a chain of seminars hosted by the Ministry of Industry and Trade after the National Assembly officially ratified the agreement on June 8.

Addressing the conference, Deputy Minister of Industry and Trade Tran Quoc Khanh said that with its deep commitments, the EVFTA is hoped to further promote trade and investment relations between Vietnam and the EU in particular as well as foster Vietnam’s international economic integration in general.

Vietnam’s export and import turnover were down 2.8 percent in the first five months of 2020, he said, due to the impact of the COVID-19 pandemic.

Once in effect, the EVFTA will provide impetus for Vietnamese enterprises to recover and promote production and business activities, he said.

Businesses can join new supply chains to replace traditional supply chains that have been disrupted by the COVID-19 crisis, while expanding and diversifying their export markets to minimise dependence on certain market groups, he added.

Pham Tuan Anh, deputy head of the International Cooperation Department at the Ministry of Finance, said that similar to FTAs Vietnam has signed with partners and implemented previously, MoF is also proactive in building and implementing relevant plans it is in charge of.

According to Phan Thi Thanh Xuan, Vice Chairwoman and General Secretary of the Vietnam Leather and Footwear Association (Lefaso), the implementation of the agreement will help businesses accelerate their exports, especially to the European market, because it accounts for nearly 30 percent of Vietnam’s export turnover.

According to representatives from Lefaso, it is necessary to develop support industries because the financial strength of small- and medium-sized enterprises is not enough to be self-sufficient in producing raw materials, so strategies to strengthen the supply of raw materials for production are necessary.

Businesses also need to participate in domestic and foreign chains and be closely linked with domestic and foreign suppliers to respond to fluctuations in a timely manner, they said./.

VNA
Recommended Content
» Seminar seeks ways to utilise EVFTA opportunities
With comprehensive commitments outlined through the EU-Vietnam Free Trade Agreement (EVFTA), the trade deal is expected to promote bilateral trade and investment relations between both sides whilst...

See more: Seminar seeks ways to utilise EVFTA opportunities

» Vietnam, India step up trade ties
Vietnam is making efforts to help Vietnamese and Indian export-import firms handle difficulties, especially during and after the COVID-19 pandemic, heard an online conference on June 17....

See more: Vietnam, India step up trade ties

» Circular about origin rules in EVFTA issued
The circular about rules of origin in the European Union – Việt Nam Free Trade Agreement was issued. — Photo tapchicongthuong.vn HÀ NỘI — Minister of Industry and Trade Trần Tuấn Anh has signed...

See more: Circular about origin rules in EVFTA issued

» Circular on origin rules in EVFTA issued
Minister of Industry and Trade Tran Tuan Anh has signed Circular 11/2020/TT-BCT on rules of origin in the European Union – Vietnam Free Trade Agreement (EVFTA)....

See more: Circular on origin rules in EVFTA issued

» EVFTA offers great opportunities to maximise Vietnam-EU cooperation potential: Deputy Minister
Deputy Foreign Minister Bui Thanh Son speaks at the seminar. NDO – The free trade agreement between Vietnam and the European Union (EVFTA) will open up great opportunities for the two sides to...

See more: EVFTA offers great opportunities to maximise Vietnam-EU cooperation potential: Deputy Minister

» Wood industry confident of meeting EU standards
Vietnam’s wood industry is preparing to reap the benefits of the EU-Vietnam Free Trade Agreement (EVFTA), which is expected to provide major opportunities once it comes into effect this summer. ...

See more: Wood industry confident of meeting EU standards

» Vietnam issued Circular on Certificate of Origin in EVFTA
Minister of Industry and Trade Tran Tuan Anh has signed Circular 11/2020/TT-BCT stipulating the Certificate of Origin (C/O) in the European Union – Vietnam Free Trade Agreement (EVFTA)....

See more: Vietnam issued Circular on Certificate of Origin in EVFTA

» Vietnam ratifies EU free trade agreement
The National Assembly has ratified the EU-Vietnam Free Trade Agreement, which will cut or eliminate 99 percent of tariffs on goods traded between the two sides....

See more: Vietnam ratifies EU free trade agreement

» Vietnam nears implementation of historic trade pact with EU
Vietnam’s National Assembly ratified the EU-Vietnam Free Trade Agreement (EVFTA) on June 8, opening the way for implementation of the historic deal this summer. Vietnam hopes the ambitious plan,...

See more: Vietnam nears implementation of historic trade pact with EU

» Vietnamese lawmakers ratify trade partnership with EU
On June 8, 2020, deputies at the ninth session of the 14th-tenure National Assembly (NA) unanimously adopted a resolution ratifying the EU-Vietnam Free Trade Agreement (EVFTA), marking a historical...

See more: Vietnamese lawmakers ratify trade partnership with EU

  • Comment
  • Latest
  • Read