High-quality items of Vietnam such as cashew, tea and coffee, will benefit from the EVFTA (Photo: VNA) Brussels (VNA) – The EU – Vietnam Free Trade Agreement (EVFTA) will bring greatbenefits to Vietnam's agricultural sector, according to an official from theEuropean Parliament (EP).
Under the agreement, which was approved by the Vietnamese National Assembly onJune 8, as many as 65 percent of import taxes on Vietnamese goods will beremoved when the agreement comes into effect, and the rest will be lifted graduallyuntil 2030, said Marc Tarabella, a parliamentarian from the EP’s Committee onAgriculture and Rural Development (AGRI).
Vietnam will enjoy a duty-free quota on 30,000 tonnes of white rice, 20,000tonnes of whole grain rice and 30,000 tonnes of fragrant rice.
Other commodities of the country, including high-quality items such as cashew,tea and coffee, will also benefit from the deal, he added.
Not only Vietnam, the European side will benefit from exporting beef, dairyproducts and pork to the Southeast Asian nation, he noted.
According to the European parliamentarian, the EVFTA is a win-win deal as it isexpected to help increase Vietnam’s export turnover to Europe by over 15billion EUR, and exports of European markets to Vietnam by over 8 billion EUR peryear.
However, he recommended that when the deal comes into full effect, Vietnam mustimprove productivity in farming, as well as abide by international and Europeanfood safety standards in production, he noted.
The EVFTA will serve as a lever, truly offering an opportunity to expand trade linksbetween the two sides, Marc Tarabella said./.
VNA
