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EVFTA opens door to Vietnam’s agricultural product

May 15, 2019 | 09:54

With 28 member nations and a population of 516 million people, the EU has a high demand for imported goods from countries around the world, including agricultural products. Therefore, Vietnam should take the initiative in sending its products to the foreign market.

EVFTA opens door to Vietnam’s agricultural product

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Vietnam has gained significant outcomes in exporting agricultural product to the EU in recent times, but there are still several difficulties. Competitive barriers arising from integration process and a lack of specialised processing and connections have hindered the potential of the Southeast Asian country’s exports.

When the EU- Vietnam Free Trade Agreement (EVFTA) comes into effect, it’s expected to open many opportunities for Vietnamese agricultural products due to tax cuts from zero to five percent up to 10 years.

To successfully export agricultural products to the EU, experts said the Vietnamese Government should intensify food policy management and local initiatives while calling for more investors to invest in agriculture, especially after harvesting.