Finding solutions to maximize the effectiveness of free trade agreements

On September 25, the Ho Chi Minh City Investment and Trade Promotion Center (ITPC) in collaboration with the Trade Promotion Agency (Vietrade) and the Import-Export Department, Ministry of Industry and Trade organized a workshop on “Opportunities and challenges for Vietnamese enterprises when implementing international trade agreements - FTAs” to help enterprises make the most of incentives to overcome challenges and improve competitiveness in the market.

Businesses need to take advantage of free trade agreements for sustainable exports.

According to data from the Ministry of Industry and Trade , from 2023 to 2024, export revenue for goods enjoying preferential tariffs under Free Trade Agreements (FTAs) will achieve an average annual growth rate of 12.7%. The signing of strategic FTAs ​​has made Vietnam an attractive destination for production lines from countries around the world.

Ms. Ho Thi Quyen, Deputy Director of ITPC, said that with many FTAs, enterprises not only enjoy tariff incentives but also have the opportunity to access demanding markets such as the EU, the US, Japan, etc. However, along with opportunities come a series of challenges regarding rules of origin, technical standards and sustainable development requirements. Therefore, enterprises need to proactively invest in improving production conditions, developing supporting industries, linking within the bloc and cooperating with the FDI sector to increase the localization rate and enhance competitiveness. In addition, management agencies will continue to have credit and financial policies to support small and medium enterprises, which are facing many difficulties in meeting the requirements of FTAs.

Similarly, Ms. Bui Hoang Yen, Representative of the Southern Trade Promotion Agency Office, said that Vietnam has signed 18 FTAs, of which 17 agreements have come into effect. However, the rate of businesses taking advantage of tariff incentives is currently only about 30-40%. However, major barriers come from dependence on imported raw materials, the risk of supply chain disruption, along with increasing pressure to comply with environmental, labor and intellectual property standards.

Delegates proposed many solutions for businesses to expand export markets at the workshop "Opportunities and challenges for Vietnamese businesses when implementing international trade agreements - FTAs".

From a business perspective, Ms. Tran Thi Ngoc Lan, founder of ANTO Tea Company Limited, said that adjusting packaging and labels, using Certificates of Origin (C/O), applying traceability technology and cooperating with international inspection organizations are the keys to effectively exploiting the market. In addition, supplier assessment is also a decisive factor for Vietnamese businesses to score points and participate more deeply in the global supply chain.

Source: https://baotintuc.vn/kinh-te/tim-giai-phap-khai-tac-toi-da-hieu-qua-cua-cac-hiep-dinh-thuong-mai-tu-do-20250925175539958.htm