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VN seeks ways to boost access to EU market

Monday, 28 September 2015
Once coming into effect, the EU-Viet Nam Free Trade Agreement (EVFTA) is expected to help raise Viet Nam’s gross domestic product (GDP) growth to 7-8% by 2025 and export growth to 50% by 2020, expert said.

It is estimated that textile, garment and leather may grow 16%, 40% and 31%, respectively.

The information was released by Team Leader Claudio Dordi of the European Trade Policy and Investment Support Project (EU-MUTRAP) at a seminar held in Ho Chi Minh City on September 25.

The event is aimed at enhancing capacity to get access to the EU market.

Viet Nam earned US$20.9 billion and US$12.7 billion from exporting garment and footwear in 2014, according to the Viet Nam Leather, Footwear and Handbag Association (LEFASO).

The EU was the largest importer of Viet Nam’s footwear, with US$ 3.6 billion in 2014, up 17.3% against 2013 and accounting for 34%.

Mr. Claudio Dordi suggested that Vietnamese businesses focus on rules of origin, promote distribution channels in the EU, build trademarks, enhance environmentally friendly products and comply with technique, safety and sanitation regulations.

General Secretary of the LEFASO Phan Thi Thanh Xuan suggested State management agencies’ develop and complete a technical legal framework to ensure the quality of footwear and garment materials as well as enhance the negotiations on Framework Agreements on mutual recognition to facilitate exports.

Van Hai (Source: VGP News)

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