The successful negotiations and signing of the free trade agreements with big partners will heighten Vietnam’s image in the world stage, creating a new push for the economic growth in the long term, Minister of Industry and Trade Tran Tuan Anh has said, refering to the trade deals recently inked with the EU.

Commitments to provide fair and equal treatment as well as protection for investors of both sides in the freshly signed EU-Vietnam Investment Protection Agreement (EVIPA) are expected to help Vietnam attract major groups.

Keeping the growth rate of 6.8-7.0% as the set target for 2019 requires a stronger reform effort to improve the business environment and enhance the resilience of the economy in handling risks amidst a volatile international economic environment, experts have said.

Textile, garment and footwear products made in Việt Nam will not enjoy immediate tariff cuts after the EU-Việt Nam Free Trade Agreement (EVFTA) comes into effect, according to a report from Bảo Việt Securities Joint Stock Company (BVSC).

Vietnam’s export turnover from leather products and footwear is estimated to hit 21.5 billion USD in 2019, a year-on-year rise of 10 percent, said the Vietnam Leather, Footwear and Handbag Association (LEFASO).

Opportunities provided by free trade agreements (FTAs) will only exist on paper if local authorities and enterprises do not take prompt and concrete actions to take advantage, experts said at a meeting on Wednesday in Ha Noi

The United States Agency for International Development (USAID) and Việt Nam’s Ministry of Finance (MoF) launched the USAID Trade Facilitation Programme in Hà Nội on Wednesday.

In a blow to Bangladesh’s apparel exporters, the EU, the country’s largest export destination, has extended duty-free access to Vietnam, eliminating the competitive edge that the country held over its biggest rival in the trade.

With strong commitments on tariff elimination, the European Union - Vietnam Free Trade Agreement (EVFTA) is considered a highway to connect Vietnam with the vast EU market. However, opportunities will only come to enterprises who have been well prepared.

SMEs will be counseled on how to benefit the most from the newly-signed EU-Vietnam Free Trade Agreement.