return icon

EVFTA brings chances and challenges to local agricultural production

The new trade agreement between Viet Nam and the European Union opens many doors for agriculture, according to experts.


Rice is loaded at Saigon Port in HCM City. With the ratification of the EU-Viet Nam Free Trade Agreement, Viet Nam can export 80,000 tonnes of rice a year with a zero tax rate to the EU.


The new trade agreement between Viet Nam and the European Union opens many doors for agriculture, according to experts.

Nguyen Do Anh Tuan, director of the Department of International Cooperation, Ministry of Agriculture and Rural Development said the newly-ratified EU-Vietnam Free Trade Agreement (EVFTA) offers plenty of opportunities.

He said as the EU imports about US$150 billion agricultural products each year so the EVFTA would open up a potential market for the local export agricultural products.

Tuan told a discussion hosted by the Government Electronic Portal on the EVFTA in Ha Noi yesterday that: “There is room for Vietnamese agricultural products.”

Agreeing with Tuan, chairman of Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc said: “The EU is a large market with the world's leading purchasing powers and the EVFTA Agreement marks a new phase for Viet Nam with favourable conditions for the local enterprises, including the agriculture firms, to increase exports.”

However, Luong Hoang Thai, director general of the Multilateral Trade Policy Department, under the Ministry of Trade and Industry raised a number of challenges for the industry as the strict conditions from the EU market such as the regulation of origin, quality and labour relating to the agriculture production.

Thai added: “Local livestock industry would face increasing competitive pressure from imported products from the EU.”

He thought the small scale of the husbandry would make farmers and local livestock cooperatives fall behind imported products from EU.

As frozen pork meat would be duty-free after seven years, dairy products after five years, and processed food after seven years, and chicken after 10 years, Thai said: “Viet Nam should take time to improve the local livestock.”

Currently the EU’s livestock products exported to Vietnam are subject to tariffs of 10-40 per cent. The reduction of import tariff on livestock products from the EU will improve their penetration of the Vietnamese market and pose significant competition to domestic products.

Thai added the country should apply further modern technology to ensure clean production as well as avoid child labour in the production to improve agriculture production to better grasp the chance from the EVFTA.

Gov’t to issue lists of preferential tariffs under EVFTA

The Ministry of Finance said on February 13 that it will build and submit the draft decree to the Government.

When the agreement takes effect, Viet Nam will immediately remove 48.5 per cent of import tariff lines, equivalent to 64.5 per cent of its imports from the EU. The respective rates will reach about 99 per cent and 99.8 per cent after 10 years.

Regarding the remaining tariffs, the elimination roadmap will last for more than 10 years, or Viet Nam will give preferential treatment to the EU on the basis of the World Trade Organisation (WTO)’s tariff quota.

Meanwhile, the country pledged to erase tariffs on exports to the EU according to a 15-year roadmap, except for some products such as crude oil and coal.

On February 12, the European Parliament ratified the EVFTA with 401 votes in favour, 192 against and 40 abstentions. The EU-Vietnam Investment Protection Agreement was also passed the same day.

Both agreements were officially signed in Ha Noi on June 30, 2019.

The European Parliament will later issue an announcement on the completion of the EVFTA ratification process and transfer the ratification dossier back to the European Council to complete final procedures.

Vietnamese agencies are also working on procedures to submit the EVFTA to the National Assembly at the session in May. If the parliament adopts the deal in May and the two sides inform each other about procedure completion in June, the EVFTA will become effective on July 1 this year. — VNS


Vietnam says to ratify EVFTA in May

Vietnam says to ratify EVFTA in May

The EVFTA will be ratified in May and take effect in July this year if everything fares well, said Minister of Industry and Trade Tran Tuan Anh.  

EVFTA and EVIPA important to economic relations in VN and EU

EVFTA and EVIPA important to economic relations in VN and EU

The European Parliament ratified EVFTA and EVIPA. Vietnam News Agency spoke to Deputy Minister of Foreign Affairs Bùi Thanh Sơn in Paris about the...


Use of e-cigarettes by youth rockets with easy availability at shops

Many students and young people have been hospitalized in a deep coma after using e-cigarettes, which are easy to buy.

How will telecom carriers fare in a highly competitive market?

The traditional telecom market is getting saturated and facing upheavals, including a drop in revenue from traditional calls and SMS, a tighter management policy and changes in technology.

Number of international visitors to Vietnam sets 'record' after pandemic

Vietnam welcomed 2.95 million foreign visitors in January-November 2022, 21.1 times up year on year, but still down 81.9% compared with pre-pandemic levels in 2019.

Su-30MK2, Mi helicopters rehearse in Hanoi

On December 2, Su-30MK2 fighters performed in a rehearsal to prepare for the upcoming Vietnam International Defense Exhibition 2022.

Vietnam sends condolences over passing of former Chinese leader Jiang Zemin

Vietnamese leaders on December 2 cabled messages of condolences to Chinese leaders over the death of former General Secretary of the Communist Party of China (CPC) Central Committee and former President of China Jiang Zemin.

Ministry proposes canceling funding plans over disbursement delays

Disbursements of public funds sourced from foreign loans in the year through November had moved at a snail’s pace, reaching only slightly more than 25% of the full-year plan.

Hanoi to pilot bike rental service in six urban districts

Hanoi has approved a year-long pilot bike rental service programme in Hoan Kiem, Tay Ho, Dong Da, Ba Dinh, Hai Ba Trung, and Thanh Xuan districts.

Weightlifters hope for Olympic qualification from world championship

It was scheduled to be held in Chongqing, China, but this changed in March due to COVID-19 measures in China. The new location was announced in April.

Striker Nguyen Van Quyet named best player of 2022 V.League 1

Striker Nguyen Van Quyet received a statue for the most valuable player of the 2022 V.League 1 season at a V.League Awards ceremony organised on December 1 in Hanoi.

Meteor shower to light up Vietnamese skies on December 13

Local sky gazers will have a rare opportunity to witness the peak of the Geminids meteor shower, with the astronomical event set to occur between midnight on December 13 and the morning of December 14.

Da Nang wins Best Vietnam Smart City Award for third time

The central city of Da Nang has been granted the Best Vietnam Smart City Award 2022, the third time so far.

Newly-established, re-operating enterprises up over 33% in 11 months

Vietnam saw nearly 194,700 newly established and re-operating enterprises in the first 11 months of 2022, up 33.2% over the same period in 2021, a 1.3 times higher than the average rate in January – November period from 2017 - 2021.

Politburo members discuss review of resolution on HCM City development

Party General Secretary Nguyen Phu Trong on December 2 chaired a Politburo meeting on a project to review the 10-year implementation of a resolution on the orientations and tasks for the development of HCMC until 2020 and 2030, with a vision to 2050.

Exporters face tax unless they cut greenhouse gas emissions

Exports to the EU market will become more expensive unless enterprises implement greenhouse gas emission cuts. This will affect the competitiveness of many Vietnamese export companies.

Some of the best fishing lakes in and around Hanoi

Here are some of the most popular fishing lakes near Hanoi. On weekends, the number of people flocking to commercial centres, pedestrian streets or entertainment areas in the inner city of Hanoi has increased.