The European Green Deal (EGD) begins to have a strong impact on Vietnam's exports, requiring Vietnamese businesses to upgrade their production to overcome the barrier.
The call was made at a workshop on the EGD and its impact on Vietnamese exports held by the Vietnam Chamber of Commerce and Industry (VCCI) in Hanoi on Thursday.
Nguyen Thi Thu Trang, Director of the Center for World Trade Organization and Integration of the VCCI, said that the EGD is not a fixed set of green standards, nor a plan with a fully detailed roadmap for the EU’s green transition.
“It is a collection of many policies and is a work-in-progress with strong actions from the EU. Therefore, Vietnamese businesses need to learn the new EU actions that are within the green agreement framework and that affect their production and export to this market,” Trang explained.
Experts at the meeting agreed that because the EU will impose strict green regulations on imported goods including those from Vietnam, domestic exporters and producers need to be ready to adapt to EU green standards for sustainable development.
The EU is leading the world in green transition and emission neutrality efforts, especially within the framework of the EGD. The EGD is an all‑encompassing package of green policy initiatives covering all sectors of the EU economy with a direct impact on goods imported into the EU market.
Recent EU regulations will ban the import of certain types of agricultural products from deforested land. To meet these regulations will require a declaration and payment of a carbon emission tax on imported iron and steel. It will require reducing the maximum antibiotic and residue limits in imported food. These are just two of the many actions taken by the EU to implement their Green Deal.
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