Some speakers at the seminar held in Hanoi on September 19 (Photo: VNA) Participants in the event, organisedby the Cong Thuong (Industry & Trade) magazine, pointed out that in thethird year of implementing the EU - Vietnam Free Trade Agreement (EVFTA), thecountry’s export advantages and results have been partly affected by the EU’s furtherapplication of high standards and increase of special requirements related toenvironment and sustainability for imports.
Ngo Chung Khanh, Deputy Director ofthe Multilateral Trade Policy Department at the Ministry of Industry and Trade,said sustainable development is a chapter of the EVFTA, and it coversenvironmental and labour aspects.
Unlikenormal free trade agreements, sustainability forms a very important part of theEVFTA, so businesses exporting goods to the EU need to pay more attention tothe issues mentioned in this deal, he went on.
NguyenHong Loan, an expert of the technical assistance project on impact assessmentof the EU’s Carbon Border Adjustment Mechanism (CBAM), said the EU has long hadvery high environmental standards. These regulations have been tightened recently,starting with the approval of the European Green Deal that targets slashing thegreenhouse gas emissions by 55% by 2030 compared to 1990 and achieving net zeroemissions by 2050.
A garment factory in Vietnam. Garment is among the country's main exports to the EU. (Photo: VNA) Thisis also a challenge to domestic firms since those standards require gradual changestowards sustainability, which means businesses have to keep frequent monitoringto ensure their adherence. Besides, the compliance with these standards alsoneeds better awareness, greater efforts, and bigger expenses from businesses,especially small- and medium-sized ones, she added.
VuongDuc Anh, Chief of the Office of the Board of Directors at the Vietnam NationalTextile and Garment Group (Vinatex), said that to Vinatex, sustainabledevelopment is a long-term strategy that could not be carried out overnight orimmediately. Therefore, the group will have to closely follow requirements ofmarkets.
Vinatex is working to ready strategicmanpower for sustainable development by improving their awareness and equippingthem with necessary knowledge. In particular, the pilot manufacturing of sustainableproducts will be costly but also necessary since sustainable development isdefinitely a target in its medium- and long-term strategies, Anh added./.
VNA
