An overview of the conference (Photo: VNA) QuangNinh (VNA) – Leaders of the Ministry of Industry and Trade, thenorthern localities of Quang Ninh, Hai Phong and Hai Duong as well asrepresentatives of enterprises from across the nation attended a conference inHa Long city on August 28 to get a thorough understanding of Vietnam’s majorcommitments in the just-signed EU-Vietnam Free Trade Agreement (EVFTA).
Participantswere briefed on the major contents of the pact, signed in June and to becomeeffective early next year.
Theyclarified issues related to tariffs, the impact of the EVFTA on Vietnameseindustrial products’ engagement in the regional and global value chains, aswell as State management over the avoidance of trade protection measures,market management and trade promotion.
Addressingthe event, Minister of Industry and Trade Tran Tuan Anh said the EVFTA andother agreements will be tools for economic restructuring and thetransformation of the growth model, which will facilitate Vietnam’s economy andbusinesses ingetting more involved in newly-formed value chains in partnershipwith other countries.
Theminister said to make the best use of the deal, businesses should focus onstudying its contents.
Theministry will hold communication events to update people and enterprises on thecontents of the agreement, which is a new generation FTA with higherrequirements and broader coverage, he said.
MinisterAnh reminded companies with EU partners to carefully study the FTA to ensurecompetitiveness.
TheEVFTA is expected to boost export growth and diversify the markets and exportproducts of Vietnam.
Rightafter the EVFTA is effective, 85.6 percent of the products of Vietnam shippedto the EU will enjoy zero tax rates. After seven years, 99.2 percent of theproducts will receive zero percent tax rate.
Atthe conference, delegates received training on Vietnam’scommitments in tariff, origin and investment-service regulations.-VNA
VNA
