EVFTA a turbo boost for Vietnam’s agricultural exports

14/08/2023    63

The EU - Vietnam Free Trade Agreement (EVFTA), which came into force three years ago, has offered tremendous opportunities for Vietnamese agricultural exporters to find markets for their high-quality products.

Under the pact, various Vietnamese agricultural products, including Trung Nguyen Coffee, have found favour and secured a firm foothold in the European market.

Fresh fruit like lychees, grapefruit, and longans have also won the hearts of European consumers. Rice and pepper, though not key exports to the market, have also sold well in Europe.

With the EVFTA, 100% of tariff lines were slashed to 0% for Vietnamese tea and coffee, while 86.3% of tariff lines came down to 0% for other products such as cinnamon, pepper, cashew nuts, and fruit in August 2020.

Figures show that exports of Vietnamese agro-fishery products to the EU have enjoyed stable growth. Vietnam, meanwhile, has continually opened its door to European products.

The EVFTA has served as a lever to promote comprehensive agricultural restructuring, in particular enhancing the added value of agricultural products.

Commitments on transparent administration and a favourable investment climate under the pact also help Vietnam receive high-quality investment flows and access advanced technologies from Europe./.

Source: VietnamPlus