Vietnamese enterprises supported to grasp EVFTA’s opportunities

BTO – The Ministry of Trade and Industry in coordination with small and medium enterprises has held a national teleconference on recently. The event aims to open up opportunities for businesses to take full use of the European Union - Vietnam Free Trade Agreement (EVFTA).

At Binh Thuan’s spot, there are Vice Chairman of the provincial People’s Committee Luong Van Hai and leaders of local units, associations, trade unions and some typical small and medium enterprises.

A national teleconference in support of small-and-medium enterprises

In the upcoming time, the National Assembly will vote for the approval of EVFTA Agreement. Therefore, the Friday conference was held for the purpose of providing in-depth information on EVFTA Agreement, especially focusing on the aspects of small-and-medium enterprise. In which, it stresses on the benefits as well as chance-grasping of the domestic enterprises from EVFTA.

After the opening speeches, the conference has focused on a variety of topics, including: Strategic benefits and Notices for small and medium enterprises to implement the EVFTA effectively (Multilateral Trade Policy Department - Ministry of Industry and Trade;

Secondly, the topic related to potential commodities and orientation on export promotion to EU market (Import and Export Department - Ministry of Industry and Trade); and Orientation on Trade promotion activities in support of small-and-medium enterprises (Department of Trade promotion - The Ministry of Industry and Trade)

This conference spared most of time on discussing the roles of Governments at all levels in supporting the small-and-medium enterprise to thoroughly grasp and implement EVFTA effectively.

Under the Agreement, Vietnam has chances to access to 1 out of the 3 most potential markets on the globe, with a population scale of more than 500 million. Currently, EU is the second largest export markets of the world and it is also Vietnam’s second largest export market, followed by the US and China.

Consequently, Vietnamese businesses should take full advantages of EVFTA chances so that we create a new supply chains, alternating the traditional supply chains in the region and the world which have been affected by Covid-19 pandemic.

Translated by My Thien (Source: Binh Thuan Online)