A seminar took place in Da Nang on Tuesday to introduce the Viet Nam-EU Free Trade Agreement (EVFTA) to Vietnamese businesses, and to advise them how to make best preparations for EVFTA.

Guests at the seminar (Photo: Internet)

The event was jointly organised by the European Union (EU) Delegation to Viet Nam, and the city’s branch of the Viet Nam Chamber of Commerce and Industry (VCCI).  Over 50 representatives from local relevant agencies, associations, and businesses attended.

Ms Miriam Garcia Ferrer, Head of the Trade and Economic Section of the EU Delegation to Viet Nam, remarked “Between 2018 and 2025, EVFTA will lift nearly all the tariffs between its member countries.  The agreement will help to lower technical barriers to trade, create a fair and competitive environment for businesses, and develop effective dispute resolution mechanisms”.

Ms Ferrer stressed the need for Viet Nam to promote its own brand names and boost the advertising of its domestic products to the EU market.  She added that greater efforts should be made to strictly comply with regulations about food safety and hygiene, and to simplifying administrative procedures.

At the event, some discussions were on issues relating to the Sanitary and Phytosanitary Standards (SPS) under the World Trade Organisation, and the Rules of Origin (ROOs).

A representative from the Vietnamese Ministry of Industry and Trade remarked that the self-certification of origin mechanism is being implementing on a pilot basis in Viet Nam. 

At the event, handbooks featuring information relating to EVFTA in both Vietnamese and English were distributed to participating businesses.  In addition, internet users can visit the official webpage of the European External Action Service at http://www.eeas.europa.eu for such information.

Currently, the EU is Viet Nam's second largest trade partner with their two-way trade turnover hitting over 38.4 billion EUR per year.  Viet Nam is the second ASEAN member country to enter into the free trade agreement with the EU (EVFTA) which will come into effect in 2018.