VN Trade Ministry sets up working groups for EVFTA
The Import and Export Department under the Ministry of Industry and Trade has set up different working groups to implement the the EU-Viet Nam Free Trade Agreement (EVFTA).
The Import and Export Department will spread information about the EVFTA to the local associations and business communities. — Photo kythuatmoitruong.com
The department said it will deploy 25 tasks into five key working groups for the agreement.
The first group includes building and issuing legal documents. In detail, it will focus on building a circular on rules of origin of goods in the EVFTA in June; studies and exchanges with EVFTA's related agencies in ASEAN countries and South Korea for implementing the joint mechanism under the agreement.
The first group will also coordinate with the Ministry of Agriculture and Rural Development to guide the registration process of certifying export rice to the EU to enjoy preferential tariffs; research and develop regulations on refurbished goods as committed.
The second group is to take advantage of the EVFTA to boost exports with research on tastes and demand of EU consumers and the supply and production capacity in Viet Nam to clarify which products have best strengths to enjoy the preferential tariffs as early as the second quarter of 2020 so that they can have a good start after the EVFTA takes effect.
The third group will monitor the import and export of Vietnamese goods to the EU market, update new EU policies and management measures that may affect local exports; the situation of using EVFTA preferential origins and periodic reporting to have timely advisory measures to ensure the effectiveness in making the most of EVFTA's incentives.
The fourth group will take charge in communicating and spreading information about the EVFTA to the local associations and business communities so that they can understand the benefits of the agreement, and make the best preparations when joining the EU market.
The last working group is the strengthening of state management of the certification of origin and combating frauds of goods origin. The Import and Export Department will support Vietnamese enterprises in technical handling, implementation and review when required to check and verify origin from the EU in case of necessity to protect their main interests.
A representative of the department said: “To prevent origin fraud we will set up delegations to directly inspect and verify the originating at the manufacturing facility of the enterprise to ensure the implementation of the EVFTA’s rules of origin.” — VNS
The World Bank (WB) has predicted that the EU-Vietnam Free Trade Agreement (EVFTA) could help Vietnam’s GDP and exports grow 2.4 percent and 12 percent, respectively, by 2030, the Ministry of Industry and Trade (MoIT) has reported.
Economic cooperation between Vietnam and the European Union (EU) is about to turn a new page in history as the Vietnamese National Assembly is moving very close to ratifying the EU-Vietnam Free Trade Agreement (EVFTA).