Nearly 150 businesses in Hanoi, Binh Phuoc, Ho Chi Minh City and Europe were brought together at an online forum on July 29 to get the latest updates on cooperation opportunities to be presented by the EU-Vietnam Free Trade Agreement (EVFTA).

Reforming administrative procedures and improving infrastructure quality are decisive factors in capitalising on the EU-Vietnam Free Trade Agreement (EVFTA), heard a dialogue between officials of Ho Chi Minh City and the European Chamber of Commerce in Vietnam (EuroCham) on July 28.

A training workshop called “Agricultural Production and Trade Companies - Actions to Access the EU-Vietnam Free Trade Agreement (EVFTA)” took place in Hanoi on July 30, gathering together officials from the sector, representatives of relevant organisations, and businesses.

The EU has always been the second-largest market of Vietnam's aquatic export. When the Vietnam - EU Free Trade Agreement (EVFTA) takes effect, aquatic exports to the EU are expected to grow robustly.

Vietnam’s economy is expected to gain enormously from the FTA with the EU. However, the country will face major criticism unless it adopts labor and human rights reforms.

The implementation of the EU-Vietnam Voluntary Partnership Agreement on Forest Law Enforcement, Governance and Trade, along with the EU-Vietnam Free Trade Agreement, are expected to boost the value of local timber and help wood items penetrate new demanding markets.

The Vietnam Trade Promotion Agency (Vietrade) is able to coordinate with and create the necessary conditions for Vietnamese and Dutch companies to enhance business links, Vietrade Deputy Director Le Hoang Tai has said.

Vietnamese goods are likely to face intense competition once the EU-Vietnam Free Trade Agreement (EVFTA) takes effect in early August, economists have forecast.

The customs sector has committed to creating optimal conditions for local businesses to enjoy when conducting customs clearance procedures once the European Union-Vietnam Free Trade Agreement (EVFTA) comes into force on August 1, says Deputy General Director of the General Department of Vietnam Customs Luu Manh Tuong.

Approximately 220 tariff lines of aquatic products with basic tax rates of 0 - 22% are set to be slashed to 0% immediately after the European Union-Vietnam Free Trade Agreement (EVFTA) comes into effect, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).