The Prime Minister said that businesses need to upgrade themselves to take advantage of opportunities from EVFTA, especially when the supply chain, the global market is disturbed.
At the online conference implementing the implementation plan of the Vietnam-EU Free Trade Agreement (EVFTA) on August 6, Prime Minister Nguyen Xuan Phuc reiterated EVFTA as a “highway” to promote economic growth. , opening up great opportunities for Vietnamese enterprises to enter the EU market of US $ 15,000 billion. But this is also a high standard market with strict requirements so there will be no room for businesses that are impatient and lack of creativity.
“EVFTA is a condition for Vietnamese enterprises to upgrade themselves to the global supply chain, especially when many EU corporations are moving production to Vietnam,” the Prime Minister commented.
The Prime Minister also said that the biggest existence is the limited awareness of enterprises on this free trade agreement, so taking advantage of the modest opportunity. Not to mention, EVFTA comes into effect in the context of “the fierce gust of wind from Covid-19” that disturbed the supply chain and global market. Even so, EVFTA is expected to be a big push for exports from each side.
In order to keep the “highway to the EU” open, he stated the requirements on communication, human resource development, infrastructure, competition in the domestic market with EU products ….
Prime Minister Nguyen Xuan Phuc chaired an online conference to implement EVFTA on August 6. Photo: VGP
At the suggestion of the Prime Minister, Minister of Industry and Trade Tran Tuan Anh – the main player in the implementation of the EVFTA implementation action program, said that removing barriers in production and business activities through reforms. Administration is the condition that helps Vietnamese businesses make the most of the opportunities that EVTA offers.
In this respect, Minister of Agriculture and Rural Development Nguyen Xuan Cuong said that it is necessary to drastically change institutions if “do not want Vietnamese enterprises to be excluded from the game”. The leader of the agricultural sector promises that the sector will create all favorable opportunities for businesses.
“Implement this agreement with the view that both sides win, not only with Vietnam, to fully exploit the effectiveness of the agreement. In order to do so, we must overcome ourselves through restructuring the economy and enterprises ”, Mr. Cuong stressed.
Sharing this, Mr. Tuan Anh also emphasized improving the competitiveness of enterprises, though not a new issue. He cited that Vietnamese products want to compete with EU products in the domestic market, the bottleneck needed to be removed now is the source of input materials. That is, it is necessary to invest resources more strongly in supporting industries, consolidating manufacturing industries capable of competing with exported products.
Developing supporting industries and proactively domestic raw materials in production will also help Vietnamese enterprises to overcome strict requirements on production development in association with environmental protection and traceability of goods. As for agriculture only,
He also noted, EVFTA is built on the principle of reciprocity and benefit balance. The EU eliminates tariffs on Vietnamese goods, whereas Vietnam also has an obligation to open markets for EU goods.
“The EU has a complementary import-export structure for Vietnam and therefore does not directly compete with goods in our segment,” the Minister of Industry and Trade said. Therefore, the goods that the EU has strengths when imported into Vietnam market such as machinery, equipment … will help support the domestic industry to reduce costs, improve production capacity, thereby creating make products more competitive.
Meanwhile, Mr. Tran Xuan Ha – Deputy Minister of Finance recommended that enterprises should carefully study the specific commodity tax lines to be eliminated to take advantage of opportunities. In case enterprises do not understand well, they can contact the Ministry of Finance immediately for more timely information.
Stressing “change is necessary if we want to adapt and take advantage of opportunities”, Prime Minister Nguyen Xuan Phuc requested ministries, branches and localities to proactively and promptly promulgate legal documents and internalize their commitments. and guide to implement EVFTA.
For associations, businesses, the Prime Minister recommends “changing management and business thinking, paying more attention to ensuring social obligations, labor standards and environmental protection principles”. He affirmed that the Government will play a constructive role, create a legal framework, encourage businesses to upgrade themselves to seize the opportunities that EVFTA brings.
EVFTA is effective from 1/8. Under the commitment, 84% of tariff lines, accounting for 71% of Vietnam’s exports to the EU will be reduced to 0% right after the agreement comes into effect. After 7 years, 99.2% of Vietnam’s tariff lines to the EU will be eliminated. This is the highest level of commitment a partner has for Vietnam.
On the other hand, Vietnamese consumers will benefit when 65% of EU export value to Vietnam will be exempt from import tax right after the agreement takes effect. The rest will be eliminated according to the 10-year commitment roadmap …
According to VnExpress.net
